Indian frontline equity indices were trading near record highs as heavyweight IT stocks like Infosys, Wipro, TCS and Tech Mahindra gained after a positive revision of Accenture's revenue guidance for FY25.
At 9:49 a.m., Sensex was up 94 points or 0.11 per cent at 85,930 and Nifty was up 46 points or 0.18 per cent at 26,262.
Sensex and Nifty made a new all-time high of 85,966 and 26,271 respectively in early trade.
The broader market trend remained positive. On the National Stock Exchange (NSE), 1,448 shares were in the green and 824 shares in the red.
Buying was also seen in the midcap and smallcap stocks. Nifty Midcap 100 index was up 148 points or 0.25 per cent at 60,618 and the Nifty Smallcap 100 index was up 96 points or 0.51 per cent at 19,359.
Among the sectoral indices, IT, PSU Bank, Auto, Pharma, FMCG, Metal, Pvt Bank and PSE were major gainers. Fin service, Realty, Media, Energy and Infra were laggards.
Hardik Matalia, Derivative analyst at Choice Broking said, "After a positive opening, Nifty can find support at 26,100 followed by 26,000 and 25,900. On the higher side, 26,300 can be an immediate resistance, followed by 26,350 and 26,400."
In the Sensex pack, Infosys, Tech Mahindra, Wipro, HCL Tech, TCS, Sun Pharma, Tata Steel, Titan, IndusInd Bank, Tata Motors, JSW Steel, Tata Motors and SBI were the top gainers. Power Grid, L&T, Bharti Airtel, M&M, Maruti Suzuki, ICICI Bank and HDFC Bank were the top losers.
Most of the markets in Asia are trading at a brisk pace. There is a rise in Tokyo, Shanghai, Hong Kong and Bangkok. Only Seoul and Jakarta are trading in the light red. US markets closed in the green on Thursday.
Other market experts said, "An important trend emerging in the market is the clear outperformance of large-caps over mid and small-caps. The outperformance has been pronounced during the last five trading days which saw Nifty appreciate by 2.85 per cent against a mere 0.6 per cent up move in the small-cap index."
They further said this is a healthy trend which can impart resilience to the market and, given the gush of domestic liquidity, take it higher. It appears that smart money is moving from mid and smallcaps to largecaps.
The foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 629.96 crore on September 26, while domestic institutional investors extended their buying as they bought equities worth Rs 2405 crore on the same day.
Sensex, Nifty open lower as Trump tariffs trigger global sell-off
Indian equity indices opened lower on Thursday following a sharp sell-off in global markets after the US President Donald Trump announcement of reciprocal tariffs.
India stands less impacted by Trump tariffs than global peers: Industry
As US President Donald Trump announced reciprocal tariffs on dozens of countries, including India, industry experts said on Thursday that it appears India's export competitiveness to the US market stands far less impacted on a relative basis compared to global peers.
Sensex, Nifty end higher ahead of US reciprocal tariffs announcement
The Indian stock market bounced back on Wednesday, with both the Sensex and Nifty closing higher, just before the reciprocal tariffs deadline set by US President Donald Trump.
Early April critical for investors’ sentiment amid key economic data: Report
Early April will be critical for market sentiment, with key economic data releases providing insights into global manufacturing, employment trends and economic activity, a report showed on Monday.
Foreign investors pump Rs 31,000 crore into Indian stocks as market rebounds
Foreign investors have injected nearly Rs 31,000 crore into Indian equity markets in the last six trading sessions of March, according to the latest depository data.
India and China make 'further progress' to resume Kailash Manasarovar Yatra: MEA
India and China have made further progress on the modalities to resume Kailash Manasarovar Yatra in 2025, the Ministry of External Affairs (MEA) said following the official consultation between Foreign Ministries of India and China, held in Bejing on Wednesday.