Sensex traded over 100 points higher at 83,979, while the 50-share Nifty index began trading over 50 points in the green, above 25,850 level.
On the 30-share Sensex, IT stocks led the gains, with HCL Tech, Infosys, Tech Mahindra and TCS rising up to 2%. Tata Steel, Eternal, HUL and Maruti Suzuki also advanced, gaining up to 1%.
On the downside, IndiGo, Trent, Asian Paints, Bajaj Finance and Axis Bank were among the top laggards, slipping as much as 1.5%.
Expert views
The up move continues to be led by sustained strength in banking and financials, along with momentum in select energy, metal, and consumer segments. Robust and consistent DII inflows remain the key stabilizing force underpinning the market, helping absorb volatility and support dips, says Ponmudi R, CEO of Enrich Money, said.
However, near-term sentiment is expected to stay measured, with selective profit booking emerging in high-valuation pockets and lingering uncertainty in the IT sector amid global AI-led disruption concerns. Overall, the undertone remains constructive, supported by domestic economic resilience and clear leadership from banking heavyweights. That said, participation is likely to remain selective, with ongoing sectoral rotation shaping near-term price action, he added.
Global markets
Asian equities advanced on Thursday, tracking gains in U.S. technology stocks, while persistent U.S.–Iran tensions kept oil prices supported and sustained safe-haven demand for gold. In currency markets, the dollar strengthened after minutes from the Federal Reserve’s latest meeting showed policymakers were in no hurry to begin cutting interest rates.
Trading volumes in Asia were thinner than usual, with markets in Hong Kong, China and Taiwan shut for the Lunar New Year holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, while Japan’s Nikkei gained 0.85%, led by technology stocks. South Korea’s Kospi surged about 3% to a record high.
The upbeat tone followed gains on Wall Street, where shares of major technology companies climbed after Nvidia said it had signed a multi-year agreement to supply Meta Platforms with millions of its current and future artificial intelligence chips. The Dow Jones Industrial Average rose 129.47 points, or 0.26%, to 49,662.66. The S&P 500 gained 38.10 points, or 0.56%, to 6,881.32, and the Nasdaq Composite advanced 175.25 points, or 0.78%, to 22,753.64.
In Europe, the STOXX 600 closed at a record high, supported by strength in defence and banking stocks, as investors weighed corporate earnings and reports of a leadership transition at the European Central Bank. The pan-European STOXX 600 index climbed 1.19%, while the FTSEurofirst 300 rose 30.30 points, or 1.22%. MSCI’s global equity index also advanced 0.60% to 1,048.72.
FII/DII tracker
Foreign portfolio investors or FPIs net bought shares worth Rs 1,154 crore on Wednesday, February 18. DIIs were buyers of equity worth Rs 440 crore, provisional data from the National Stock Exchange showed.
Crude impact
Oil prices held on to strong gains on Thursday after surging in the previous session, as investors continued to factor in potential supply disruptions amid concerns over a possible conflict between the U.S. and Iran.
Brent crude futures eased slightly to $70.31 a barrel after rallying 4.35% on Wednesday, while U.S. crude traded at $65.10, retaining most of its previous session’s 4.6% advance.
Rupee vs Dollar
India’s currency and debt markets will remain closed on Thursday, February 19, on account of Chhatrapati Shivaji Maharaj Jayanti. Trading will resume on Friday, February 20.
The Indian rupee ended nearly unchanged at 90.6675 against the US dollar on Wednesday.
(With inputs from agencies)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)