The equity benchmarks Sensex and Nifty rebounded in early trade on Thursday amid buying in blue-chip Reliance Industries, IT firms and foreign fund inflows. The 30-share BSE Sensex went up by 300 points to 82,061.88. The 50-share NSE Nifty climbed over 100 points to 25,155.70. Reliance Industries. shown significant trading activity today, making it one of the most active equities by value. So far this week, the Nifty index managed to defend the 25,000 mark courtesy of the IT stocks, which were the only sectoral gainers.
The Sensex index is also up nearly 300 points, trying to hold the 81,800 mark. This comes on a crucial day, as India's largest IT services company, Tata Consultancy Services (TCS), will be reporting results after market closing hours today, thereby kick-starting proceedings for the Q2 earnings season. Some of the biggest gainers among the Nifty 500 stocks are Hindustan Copper, PG Electroplast, Jindal Saw, PTC Industries, GMDC, Usha Martin, and Granules, among others. Along with TCS, Tata Elxsi and GM Breweries will also be reporting their results. Today is also the weekly options expiry of all BSE contracts.
In the commodities market, gold continued its upward march. Manav Modi, Analyst - Precious Metal Research at Motilal Oswal Financial Services Ltd., said, "Gold surged past USD 4,000 level for the first time, building on a record-breaking rally as broader geopolitical and economic uncertainty, as well as expectations of U.S. interest rate cuts, sent investors flocking to the safe-haven asset."He added that silver also touched record highs, supported by the same factors that drove gold and copper. "Gold, traditionally seen as a store of value during times of instability, is up more than 55 per cent year-to-date after gaining 27 per cent in 2024. Silver is up more than 60 per cent so far this year, benefiting from tightness in the spot market," Modi said.
Experts noted that while optimism continues, profit booking from recent highs and developments in the Israel-Hamas ceasefire could influence short-term sentiment. Markets will also be watching closely for updates on the ongoing U.S. government shutdown, now in its ninth day, which continues to weigh on global risk appetite.