Mumbai (Maharashtra) [India]: The recovery momentum in the Indian stock markets persisted on Thursday, with both major indices surging in the opening session.
The Nifty 50 index opened at 23,377.25 points, rising 164.05 points or 0.71%, while the BSE Sensex index climbed 593.10 points or 0.77%, starting the day at 77,317.18 points.
Market experts highlighted ongoing selling pressure due to weak sentiment as a challenge for a sustained bull rally. Ajay Bagga, a banking and market expert, commented, “The continued FPI selling in 2025 as well as the domestic issues of a slowing economy and a muted earnings outlook mean it will be tough for bulls to create a longer-lasting ‘short squeeze.’ Foreign investors are net long 15% while holding record shorts in a heavily oversold market that reflects global sentimental fragility and Indian fundamental weakness for the short term.”
Bagga added, “A sustained recovery in Indian markets will require strong global sentiment, a slowdown in sharp FPI selling, and a recovery in Indian fundamentals supported by counter-cyclical fiscal and monetary policy moves.”
On the NSE, all sectoral indices saw gains, with Nifty Metal, Nifty Realty, and Nifty PSU Bank leading the charge. Nifty IT also rose by 0.68%. Among Nifty 50 stocks, 35 opened in the green, while 15 were in the red.
Top gainers included HDFC Life (+8.51%), Adani Enterprises (+5.2%), and SBI Life (+3.66%). Hindustan Unilever, Tata Consumer, and Nestle India were among the top losers.
“Technically speaking, resistance in the 23,355–23,500 area is the immediate hurdle, while supports have moved higher to the 23,048–23,106 zone,” said Akshay Chinchalkar, Head of Research at Axis Securities. “Our proprietary oscillators remain bearish, but daily indicators are deeply oversold, while weekly indicators are near oversold.”
Key Q3 earnings reports are expected today from major companies, including Reliance Industries, Infosys, Axis Bank, LTIMindtree, Havells India, Metro Brands, and others.
Asian markets also experienced gains on Thursday. Taiwan Weighted rose 2.37%, South Korea’s KOSPI climbed 1.24%, and Japan’s Nikkei 225 edged up by 0.28%. Meanwhile, Hong Kong’s Hang Seng gained 0.89%, and Singapore’s Straits Times increased by 0.62%.