Sensex rises 200 pts from day’s low, Nifty nears 25,100; metal, pharma outshine

Indian stock markets were volatile in trade on Thursday, struggling to hold at higher levels, despite a positive trend in the global markets. Asian peers edged higher today following record closing highs for S&P500 and Nasdaq Composite on Wall Street overnight in the US.

That apart, US President Donald Trump’s statement that Israel and Hamas have agreed to the first phase of a United States-brokered peace plan to pause fighting in Gaza and facilitate the release of hostages and prisoners failed to aid sentiment.

The BSE Sensex index was at 81,765, down 8 points or 0.01 per cent over the previous close, while the Nifty50 was at 25,053, up

7 points or 0.03 per cent.

Tata Steel was outperforming other Sensex constituents with a gain of 3 per cent. HCL Tech, Eicher Motors, L&T, and Sun Pharma were also among the top gainers, trading higher by up to 1.85 per cent.

Conversely, Tata Motors, Axis Bank, Maruti Suzuki India, HDFC Bank, and Power Grid were among the top laggards on the Sensex, trading lower by up to 1.2 per cent.

In the broader markets, the Nifty Midcap 100 and Nifty Smallcap 100 indices were trading higher by 0.56 per cent and 0.10 per cent, respectively.

Among sectors, the Nifty Metal index climbed 1.5 per cent, the Nifty Pharma index 1.2 per cent, and the Nifty Realty index 0.6 per cent.

On the flipside, the Nifty Bank, Auto, and FMCG indices were slightly in the red.

Q2 results today

Stock-specific action is in focus as companies report quarterly earning numbers. Tata Consultancy Services (TCS), Tata Elxsi, GM Breweries, Eimco Elecon (India), Aris International, Ashiana Ispat, Avasara Finance, Evoq Remedies, and Triton Corp are scheduled to release their Q2 results today.