Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Thursday, mirroring strong global market trends amid growing optimism over potential US Federal Reserve rate cuts.
Renewed foreign fund inflows further buoyed investor sentiment in the opening session.
The 30-share BSE Sensex rose 407.67 points to 83,013.10, while the 50-share NSE Nifty advanced 104 points to 25,427.55.
Among Sensex constituents, Axis Bank gained nearly 3%, following its September quarter earnings announcement. Other major gainers included Adani Ports, Titan, Kotak Mahindra Bank, Tata Motors, and Bharat Electronics. In contrast, Infosys, Tata Steel, TCS, and Sun Pharma traded lower.
Across Asia, South Korea’s Kospi, Japan’s Nikkei 225, and Shanghai’s SSE Composite were in the green, while Hong Kong’s Hang Seng edged lower. US markets had also ended mostly higher on Wednesday.
Meanwhile, Commerce Secretary Rajesh Agrawal is set to join the Indian delegation in Washington for trade talks, where India is expected to signal its willingness to increase energy imports from the US.
“Bullish euphoria is set to light up Dalal Street ahead of Diwali, driven by Fed rate-cut hopes, upbeat global cues, and the IMF’s upward revision of India’s FY26 GDP forecast to 6.6%,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
On the commodities front, Brent crude rose 0.76% to USD 62.38 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 68.64 crore on Wednesday, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 4,650.08 crore.
In the previous session, the Sensex had climbed 575.45 points (0.70%) to 82,605.43, and the Nifty advanced 178.05 points (0.71%) to 25,323.55.
