Indian markets gain momentum despite global uncertainties; investors track Q1 earnings, IPO activity and geopolitical developments
Indian equity markets witnessed strong buying interest in Thursday’s trading session, with benchmark indices gaining over half a percent as investors picked up shares across automobile, consumer durable and financial sectors. The positive opening came despite concerns over global uncertainties and renewed tensions between the United States and Iran.
The BSE Sensex climbed more than 500 points, while the Nifty 50 moved above the crucial 24,000 level, indicating improved market sentiment. Analysts attributed the rally to strong domestic participation, positive sectoral momentum and expectations around corporate earnings for the first quarter of FY27.
At 10:00 AM, the Sensex was trading 537.92 points higher at 77,041.52, gaining around 0.70%. The Nifty 50 advanced 158.40 points, or 0.66%, to 24,040.45.
Broader Markets Continue Positive Momentum
The broader market also supported the overall rally, reflecting healthy investor appetite across market segments. The Nifty MidCap 100 index gained 0.68%, while the Nifty SmallCap 100 index rose 0.41% during the morning session.
The positive movement in mid and small-cap stocks indicated continued interest from domestic investors, although market participants remained cautious due to elevated valuations in some pockets.
Consumer Durables and Auto Stocks Drive Market Gains
Among sectors, consumer durable stocks emerged as the biggest outperformers. The Nifty Consumer Durables index recorded the strongest gains, supported by buying interest in leading companies from the jewellery, electronics and appliance segments.
Stocks such as Kalyan Jewellers India, Dixon Technologies and PG Electroplast were among the top performers in the consumer durable space.
Automobile stocks also contributed significantly to the market rally, supported by expectations of steady demand, improving rural consumption trends and positive sales momentum reported by several automobile manufacturers in recent months.
IT Stocks Remain Under Pressure
While most sectors traded in positive territory, the technology sector witnessed selling pressure. The Nifty IT index declined around 1.5%, becoming the biggest sectoral loser in early trade.
Investors remained cautious ahead of major IT earnings announcements and continued to monitor global technology spending trends, currency movements and demand outlook from international markets.
The market is closely watching the first-quarter results of major companies, including Tata Consultancy Services (TCS), along with other companies scheduled to announce their earnings today.
Corporate Updates: JSW Steel Reports Production Growth
In corporate developments, JSW Steel reported a 3% year-on-year rise in consolidated crude steel production during the first quarter of FY27.
The company produced 6.59 million tonnes during Q1FY27, reflecting steady operational performance and improving production efficiency.
The update comes as investors continue to track steel demand, commodity prices and infrastructure-related growth opportunities in India.
Dr. Reddy’s Laboratories Suspends Semaglutide Supply
Pharmaceutical major Dr. Reddy’s Laboratories informed exchanges that certain batches of semaglutide were found to be out of specification due to issues related to the active pharmaceutical ingredient (API).
The company has initiated an investigation to identify the root cause and has temporarily suspended commercial supply of the affected batches until the matter is resolved.
IPO Market Remains Active With Multiple Issues Opening
The primary market witnessed strong activity as multiple companies launched their initial public offerings on Thursday.
Laser Power & Infra IPO opened for subscription with an objective to raise approximately ₹742 crore from investors.
Along with this, Devson Catalyst IPO and Happy Steels IPO also opened for bidding. The two book-built issues are valued at approximately ₹42.32 crore and ₹25 crore, respectively.
Meanwhile, Kusumgar IPO entered its second day of subscription. The company is looking to raise around ₹650 crore through an offer-for-sale (OFS) issue.
ADB Revises India Growth Forecast to 6.6%
Market sentiment was also influenced by economic developments after the Asian Development Bank (ADB) revised India’s FY27 growth forecast to 6.6%.
The revised projection reflects expectations of continued domestic growth but also highlights risks from global economic uncertainty, geopolitical tensions and external demand challenges.
Market Outlook: Earnings and Global Trends in Focus
Going ahead, investors will closely track corporate earnings announcements, global market movements, crude oil prices, currency trends and geopolitical developments for further direction.
While the recovery in consumer-facing sectors provided support to markets, volatility may remain elevated due to global risk factors. Analysts believe sustained earnings growth and domestic economic resilience will remain key drivers for Indian equities in the coming sessions.