Stock markets update: In the early trade, the 30-share BSE Sensex climbed 351 points to 74,081. Meanwhile, the Nifty was also up by 101 points to 22,438.
Stock markets update: Equity benchmark indices opened higher in early trade on Thursday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 351 points to 74,081. Meanwhile, the Nifty was also up by 101 points to 22,438. Investor sentiment received a boost after US President Donald Trump announced a postponement of tariffs on certain automakers, easing concerns over trade tensions. Adding to the optimism, White House spokesperson Karoline Leavitt stated that President Trump was open to considering additional tariff exemptions beyond the temporary pause on auto levies.
Among the top-performing stocks, BPCL, Shriram Finance, Asian Paints, Tata Motors, Reliance Industries, Hindalco, Tata Steel, BEL, and Wipro surged by up to 2.83%, leading the market rally. The positive momentum extended to the broader markets as well, with the Nifty MidCap index rising 0.99% and the Nifty SmallCap index gaining 1.23%. Investors will closely monitor further developments on US tariff policies and global trade discussions.
Additionally, market participants are keeping an eye on the European Central Bank’s interest rate decision, along with key economic indicators such as US trade data, weekly jobless claims, and vehicle sales figures. On the domestic front, stock-specific movements, foreign institutional investor (FII) activity, and the weekly expiry of Nifty F&O contracts are expected to influence market direction. With a mix of global and local factors at play, traders and investors are expected to navigate the session with a watchful eye on key economic triggers.
Rupee against dollar
The rupee failed to sustain its gaining momentum and fell 5 paise to 87.11 against the US dollar in early trade on Thursday as a lower American currency and crude oil prices failed to boost sentiment amid volatile equity markets and foreign funds outflow. The local currency found support initially amid the US move to delay implementation of higher tariffs on Canada and Mexico, forex traders said.
Also, RBI’s decision to infuse Rs 1.9 trillion liquidity into the banking system added strength to the domestic unit. However, they said, volatile equity markets played a spoilsport and pushed back the local unit to the negative territory. At the interbank foreign exchange, the rupee opened stronger at 86.96, went up to 86.88 but soon pared most of its gains and traded at 87.11 against the greenback, registering a loss of 5 paise from its previous closing level.
(With PTI inputs)
