Mumbai, Nov 6 (NationPress) Indian benchmark indices commenced trading positively on Thursday, buoyed by favorable global signals, primarily driven by increases in automobile stocks.

As of 9:25 AM, the Sensex surged by 324 points, representing a 0.39 percent rise, reaching 83,783. Meanwhile, the Nifty climbed 67 points, or 0.26 percent, settling at 25,664.

The broadcap indices displayed a different trend compared to the benchmarks, as the Nifty Midcap 100 dipped by 0.10 percent and the Nifty Smallcap 100 fell by 0.24 percent.

Among the top gainers in the Nifty Pack were Asian Paints, SBI, L&T, and NTPC. Conversely, notable losers included Hindalco, Shriram Finance, Bajaj Finance, Apollo Hospitals, and Dr. Reddy's Labs.

In terms of sectoral indices, all except for Nifty Media, Nifty Metal, and Financial Services were in positive territory. The Nifty Auto segment emerged as the top gainer, increasing by 0.91 percent, while the FMCG sector rose by 0.77 percent. Nifty Metal, however, experienced a decline of 1.01 percent.

The second-quarter FY26 earnings season for Indian corporations showcased an unexpected strength, with a 14 percent year-on-year earnings increase, particularly among mid-cap companies.

Brokerage firms observed that earnings upgrades surpassed downgrades for the first time in several quarters, reflecting a growing confidence in corporate profitability.

Analysts predict that a resurgence of selling by foreign institutional investors (FIIs) and rising FII short positions may exert downward pressure on the markets in the short term.

“The holiday on Wednesday insulated the Indian market from slight fluctuations observed in global markets. Attention will be directed towards the US Supreme Court's deliberations regarding tariffs imposed by Donald Trump in the coming days. Some judges have indicated that ‘President Trump may have exceeded his authority,’ which is a significant development,” noted Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.

If the final decision aligns with these views, we could see market volatility, with emerging markets like India potentially experiencing a notable rally, he added.

Analysts have set immediate resistance levels at 25,700, followed by 25,450 and 25,800. On the downside, support levels are established at 25,450 and 25,500.

The US markets concluded positively overnight, with the Nasdaq up by 0.46 percent, the S&P 500 rising 0.17 percent, and the Dow down by 0.48 percent.

Most Asian markets displayed positive momentum during the morning session. The Shanghai index in China increased by 0.88 percent, Shenzhen rose 1.39 percent, Japan's Nikkei climbed 1.45 percent, and Hong Kong's Hang Seng Index saw a gain of 1.69 percent. South Korea's Kospi also added 1.58 percent.

In the previous trading session on Tuesday, foreign institutional investors (FIIs) sold equities worth Rs 1,067.01 crore, while domestic institutional investors (DIIs) continued their buying streak for the seventh consecutive session, acquiring shares valued at Rs 1,202.90 crore.