Markets Open Higher: Sensex Gains 150 Points, Nifty Tops 26,000 on Strong Earnings, FII Interest

Benchmark equity indices opened higher on Thursday, extending this week’s upward momentum supported by strong Q2 earnings and renewed foreign investor interest. The S&P BSE Sensex rose over 150 points in early trade, while the NSE Nifty50 crossed the 26,000 mark, reflecting a mildly bullish market sentiment. Broader indices also inched up, tracking gains in frontline stocks.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the market’s foundation has strengthened significantly compared to earlier this year. “The bullish trend is likely to sustain, aided by positive triggers. The narrative is shifting from strong macros and weak micros to strong macros and improving micros,” he noted.

He added that global sentiment toward India is becoming increasingly favourable. “Leading global banks now view India as fairly valued and attractive. This reassessment, combined with a resilient economy and better corporate earnings, is boosting the markets.”

Vijayakumar also pointed to an emerging global trend. “The weakening AI trade is another positive for India—what can be seen as an anti-AI trade. FIIs turning buyers in the cash market yesterday indicates this shift in perception.”

On sector preferences, he expects largecaps to dominate. “Largecaps are likely to outperform, especially since smallcaps remain overvalued even after recent corrections. Bank Nifty still has scope to rally on supportive fundamentals and valuations,” he said.

Anand James, Chief Market Strategist at Geojit Financial Services, said the index setup points to further gains, though the pace may be moderate. “The anticipated upward turn materialised without testing the 25,840 support level. This now opens the path towards 26,130–26,550.”

However, he cautioned against expecting a sharp rise. “A vertical rally is unlikely as momentum indicators don’t yet show strength. Upside may be capped today, with support seen around 26,028–25,984,” he added.