Indian equity markets kicked off the trading session on Thursday, October 15, on a notably firm footing, managing to shrug off soft international cues. Domestic market participants stepped in with aggressive buying interest right from the opening bell, allowing both frontline benchmark indices to stay comfortably in positive territory throughout the opening hours of trade.
Benchmark Indices Surge as Sensex and Nifty Rally
Right at the start of the session, the 30-share BSE Sensex jumped 345.57 points, or 0.47 percent, reaching 73,127.46. Simultaneously, the broader 50-share NSE Nifty advanced by roughly 97.05 points, representing a gain of 0.43 percent, to trade around 22,719.75. The market momentum drew immense strength from heavyweight constituents in the information technology and banking segments. In contrast to the headline indices, the broader market advance-decline ratio stood nearly neck-and-neck during early trade. Advancing counters numbered 1,097 against 1,141 declining stocks, while 181 scrips remained completely unchanged from their previous close.
Sectoral Trends Show IT and Consumer Staples Leading the Way
Sector-wise action reflected clear outperformance from technology and service-oriented sectors. The Nifty IT index gained significant traction, climbing 1.39 percent to hit 30,590.30. Defensive and rate-sensitive sectors followed suit, with Nifty FMCG climbing 0.58 percent and Nifty Services adding 0.57 percent. Real estate and private financial gauges also posted modest advances, as Nifty Realty rose 0.36 percent and Nifty Bank ticked up 0.27 percent. Conversely, capital-intensive and public sector baskets experienced notable selling pressure. Nifty Energy slipped 1.00 percent, Nifty PSU Bank declined 0.79 percent, Nifty PSE dropped 0.72 percent, and Nifty Infra edged lower by 0.01 percent.
Tech Mahindra and TCS Lead Gainers While Adani Counters Lag
Individual stock movements within the Nifty pack highlighted widespread enthusiasm for software exporters and selected private lenders. Tech Mahindra spearheaded the rally with an increase of 2.10 percent, while TCS gained 1.92 percent and Infosys moved up 1.68 percent. Other frontline gainers included Tata Consumer, which climbed 1.42 percent, ICICI Bank with a rise of 1.29 percent, Bharti Airtel rising 0.88 percent, and HCL Tech advancing 0.78 percent. On the flip side, select conglomerates, engineering, and commodity names bore the brunt of profit-taking. Adani Enterprises slipped 1.28 percent, Adani Ports retreated 1.22 percent, Hindalco Industries declined 1.16 percent, Bharat Electronics (BEL) dropped 1.01 percent, Trent fell 0.87 percent, and L&T shed 0.69 percent.
