Indian benchmark indices opened sharply higher on strong global cues on Thursday, but early gains narrowed as investors booked profits. Despite selling pressure, both the Sensex and Nifty remained in the green in morning trade.
New Delhi, April 16: India’s benchmark equity indices traded higher in early deals on Thursday, although sharp profit-booking trimmed a large part of the opening gains. Supported by positive global market signals, the BSE Sensex and NSE Nifty opened firmly higher before slipping from the day’s peak amid selling pressure.
By 10 am, the Sensex was up 144.49 points, or 0.19%, at 78,255.73, while the Nifty rose 50.50 points, or 0.21%, to 24,281.80, indicating that investor sentiment remained broadly positive despite intraday volatility.
Early Trade Sees Sharp Swings
The Sensex opened 566.32 points higher at 78,677.56 and climbed to an intraday high of 78,730.32 in the opening minutes. However, the rally lost momentum as investors moved to lock in profits, pulling the index down to 78,241.63before it steadied.
Similarly, the Nifty began the session 153.90 points higher at 24,385.20, touched a high of 24,400.95, and later slipped to 24,275.20 amid sustained selling.
The movement suggests that while market sentiment remained supported by overseas cues, traders were cautious after the previous session’s strong gains.
Key Highlights
Among the top gainers in early trade were Hindalco Industries, JSW Steel, Tata Steel, Infosys, and Larsen & Toubro, with gains ranging from 1.37% to 2.73%.
Metal stocks were particularly strong, reflecting optimism linked to global commodity trends and broader risk appetite in international markets.
On the losing side, Sun Pharma, Tata Consumer Products, Apollo Hospitals, Coal India, and Nestle traded lower, declining between 0.50% and 0.86%.
Market breadth remained positive. Out of 2,746 actively traded stocks, 1,866 advanced while 880 declined, indicating broader buying interest across sectors.
Within the benchmark indices, 20 of the 30 Sensex stocks traded higher, while 32 of the 50 Nifty constituents remained in positive territory.
Momentum Builds on Previous Session’s Rally
Thursday’s positive opening followed a strong close in the previous session.
On Wednesday, the Sensex had surged 1,263.67 points, or 1.64%, to close at 78,111.24, while the Nifty advanced 388.65 points, or 1.63%, to settle at 24,231.30.
That rally set a bullish tone for the market and likely encouraged buying at the opening bell.
Why This Matters for Investors
The early volatility reflects a common market pattern after a sharp rally—investors often book profits in the next session, leading to temporary pullbacks.
However, the fact that both indices stayed in positive territory despite the sell-off suggests that underlying sentiment remains constructive.
For retail investors, the session highlights continued strength in sectors such as metals, infrastructure, and information technology, while defensive and healthcare names faced mild pressure.
Outlook
Market participants are expected to closely track global developments, foreign fund flows, and sector-specific earnings cues through the day.
If buying support continues in heavyweight stocks, the benchmarks may attempt to recover from early losses and extend the previous session’s gains.
inputs and images : Hindustan samachar
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Edited By D.Rishidhar Reddy
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