Mumbai, May 7 (BNP): Indian equity markets opened on a positive note on Thursday, supported by improved global sentiment after reports of progress on a possible US-Iran peace framework.
In early trade, the BSE Sensex rose nearly 380 points to touch an intraday high of 78,339, while the Nifty 50 gained over 90 points to trade above 24,400 levels.
However, gains remained uneven across sectors. FMCG, realty, consumer durables, and private banking stocks witnessed mild pressure, while auto and metal indices saw modest gains. Select heavyweight stocks such as Tata Consumer, Power Grid, HUL, TCS, HDFC Bank, Titan, NTPC, and Sun Pharma came under selling pressure.
Market sentiment improved after reports suggested that Iran is reviewing a US peace proposal aimed at easing regional tensions, although key issues such as nuclear restrictions and strategic maritime routes remain unresolved.
Analysts noted that global markets continue to react to shifting geopolitical signals, especially developments in West Asia, which have also kept crude oil prices volatile.
Brent crude remained elevated in global trade, reflecting ongoing uncertainty in supply outlook.
Experts added that equity markets are currently witnessing a balance between optimism over global developments and caution over stretched valuations in certain segments, particularly technology-linked and AI-driven stocks.
Foreign portfolio flows, they said, may remain sensitive to any correction in global growth themes and valuation resets in high-performing sectors.
On earnings, market participants are rewarding strong quarterly results while penalising misses, indicating a selective and stock-specific trading environment across large, mid, and small-cap segments.
Global cues were also supportive, with Asian markets trading higher and US indices closing in positive territory, adding to the overall upbeat sentiment in domestic trade.
Leave a Reply