Is the Indian Stock Market Rallying? Sensex Surpasses 81,500
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Synopsis
The Indian stock market showed a promising outlook as benchmark indices opened higher, with the Sensex surpassing the 81,500 mark. Amidst positive global cues, the IT and metal sectors led the early gains. Experts suggest this could indicate a strong buyer's market.
Key Takeaways
- Sensex opens above 81,500, indicating positive market sentiment.
- Strong performance in IT and metal sectors boosts indices.
- Key support level at 24,462 is crucial for market direction.
- FIIs and DIIs show net buying, reflecting confidence in the market.
- Global cues continue to influence local market trends.
Mumbai, May 29 (NationPress) The Indian benchmark indices commenced trading positively on Thursday, supported by encouraging global signals, particularly in the IT and metal sectors during the initial trading hours.
As of 9:29 AM, the Sensex was up by 237.56 points or 0.29 percent, reaching 81,549.88, while the Nifty gained 57.00 points or 0.23 percent to settle at 24,809.45.
The Nifty Bank index increased by 86.95 points or 0.16 percent, standing at 55,503.95. The Nifty Midcap 100 index was at 57,247.20, showing a rise of 105.80 points or 0.19 percent, while the Nifty Smallcap 100 index climbed to 17,869.20, up 85.20 points or 0.48 percent.
Analysts noted that while the Nifty experienced a second consecutive day of decline, the India VIX also fell, indicating a lack of demand for protective measures against market downturns, a sign typically absent in bearish times.
“We maintain that the critical support level is 24,462, which will determine if we are witnessing a short-term dip or the beginning of a more significant downturn. Currently, as we are above this level, it indicates that the market remains favorable for buyers,” stated Akshay Chinchalkar, Head of Research at Axis Securities.
Within the Sensex group, notable gainers included Infosys, Tata Steel, Tech Mahindra, Sun Pharma, HCL Tech, Tata Motors, HDFC Bank, Power Grid, TCS, and L&T, while Bajaj Finance was the only stock to register a loss.
In Asian markets, stocks from Hong Kong, Bangkok, Seoul, China, and Japan were trading positively, contrasting with Jakarta, which was in the red.
During the previous trading session, the Dow Jones in the US closed at 42,098.70, down 244.95 points, or 0.58 percent. The S&P 500 ended down by 32.99 points or 0.56 percent at 5,888.55, and the Nasdaq closed at 19,100.94, losing 98.23 points or 0.51 percent.
Market dynamics are still influenced by news related to US tariffs. “The recent ruling by the US Federal court against the reciprocal tariffs sends a strong message that the president cannot impose decisions on markets and the economy without proper consideration,” remarked Dr. VK Vijayakumar, Chief Investment Strategist of Geojit Investments Limited.
On the institutional side, foreign institutional investors (FIIs) emerged as net buyers, acquiring equities worth 4,662.92 crore on May 28, while domestic institutional investors (DIIs) purchased equities valued at 7,911.99 crore.
Point of View
It's imperative to observe the Indian stock market's resilience in the face of global uncertainties. Today's opening suggests a continued interest in equities, particularly in the IT and metal sectors. While analysts highlight critical levels that could indicate market trends, it’s essential for investors to remain informed and cautious amid fluctuating conditions.
NationPress
27/07/2025
Frequently Asked Questions
What factors influenced the Indian stock market's positive opening?
The positive opening was influenced by favorable global cues, particularly in the IT and metal sectors, which saw a surge in buying.
What is the significance of the 24,462 support level?
The 24,462 level is critical as it helps determine the market's direction—whether it's a temporary dip or the start of a deeper downturn.
Who were the top gainers in the Sensex today?
Top gainers in the Sensex included Infosys, Tata Steel, Tech Mahindra, and others, reflecting strong performance in key sectors.
How did international markets perform recently?
Recently, international markets saw mixed results, with the Dow Jones and S&P 500 closing lower, influenced by tariff news.
What role do institutional investors play in the current market?
Institutional investors, including FIIs and DIIs, are significant players, with recent data showing net buying, which supports market stability.
