Mumbai, Oct 23 – Indian stocks opened higher on Thursday, with the two main blue‑chip indices, the Sensex and the Nifty, gaining their biggest starts of the day.
The Sensex rose 727.81 points to 85,154.15, while the Nifty pushed past the 26,000 threshold, trading at 26,057.20 – an increase of 188.6 points. Market analysts say the Nifty could aim for 26,186 in the short run, with a more ambitious target at 26,800. A downside level sits near 25,780, but a sharp reversal isn’t expected today.
IT shares led the rally. On the BSE, Infosys, HCLTech and Tech Mahindra were the strongest. The same pattern appeared on the NSE, with these three tech names topping the gainers list. Meanwhile, Bajaj Finserv, Maruti and Power Grid lagged, and names like IndiGo, Eicher Motors and Sun Pharma Life saw selling pressure.
Sector performance was mixed: the Nifty IT index was the top gainer, up 1.84 %, while the Nifty Realty index was the only one in red, slipping 0.08 %. The small‑cap and mid‑cap indices also nudged higher, rising 0.33 % and 0.44 %, respectively.
Analysts note that new optimism, partly driven by tech buying, fuelled the early momentum. “Rumours of a near‑future trade agreement between India and the United States are starting to play in market circles,” one expert said. “Comments from President Trump and responses from Prime Minister Modi hint that a deal is on the table, and it may involve compromises from both sides.”
Foreign institutional investors kept buying, extending their winning streak to five straight days. On Oct 21, they purchased Rs 96 crore worth of Indian equities. The market looks poised for further gains as investors keep a positive outlook on tech stocks and the potential trade deal.
Source: ianslive
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