After two consecutive days of selling, markets witnessed significant gains in early trade on Thursday driven by the return of foreign investors. Sensex was trading with a gain of 300 points. Nifty was also trading above 25,400 with a gain of 80 points. Bank Nifty was also trading with a gain of 300 points. Buying was also seen in mid-cap and small-cap indices. Maximum buying was seen in Private Bank index on Nifty, which rose 1 percent. Barring minor selling in IT, almost all other sectoral indices were trading in the green.
On Wednesday, foreign institutional investors (FIIs) made net purchases of ₹2,511 crore in cash, index and share futures, while domestic funds continued their buying for the 36th consecutive day, infusing ₹4,650 crore. US markets were mixed after a day of heavy volatility. The Dow fell 17 points, while the Nasdaq rose 150 points. The Dow Jones index fell 450 points from its intraday high, while technology stocks recovered. Currently, GIFT Nifty is trading above 24,450, up by almost 50 points. Dow futures are also trading slightly higher, and the Nikkei is up 350 points in Asian markets.
Gold and silver created history
In the domestic market, gold hit a new all-time high of ₹1,27,740, while silver jumped by ₹2,800 to close at a record high of ₹1,62,500. In the international market too, gold crossed $4,240 for the first time, while silver jumped almost 4% to cross $52.5. Following the Zee Business report, MCX has imposed an additional margin of 2% on all near-monthly silver contracts to prevent defaults.
SEBI’s strictness and corporate action
SEBI has taken major action against insider trading in IEX. The regulator has ordered seizure of ₹173 crore and imposed trading restrictions on eight entities. The action followed signs of unusual trading activity ahead of the market manipulation decision.
results released
Axis Bank’s results were better than expected, HDFC Life’s numbers were mixed, while KEI Industries, Oberoi Realty and L&T Finance had strong performances. Angel One’s results were weak. Today, Nifty majors Infosys, Wipro, Nestle, Jio Financial and Eternal will release their second quarter results. The results of Cyient, LTIMindtree and Indian Bank will also be monitored in the F&O market.
IPO discussion
Rubicon Research, which was subscribed 104 times, and Canara Robeco AMC, which was subscribed 10 times, marked their listing days today. Investors will keep an eye on these stocks with the expectation of premium listing.
global signal
On the international front, Trump’s statement has created a stir. He claimed that India will stop buying oil from Russia, although there has been no confirmation from India’s side. These macro and geopolitical developments could impact market sentiment today.
signals for traders
Initial gains are expected in the domestic market today due to the return of foreign institutional investors (FIIs), record prices of gold and silver and strong global cues. There may be movement in companies related to the results, while IPO listing and SEBI action will also be closely monitored.