Indian stocks surge on us-india trade deal buzz
Indian stock markets surged on Thursday as technology shares attracted strong investor interest despite uncertain global signals. The Sensex climbed 727.81 points to reach 85,154.15 at opening, while the Nifty crossed the 26,000 threshold with a gain of 188.6 points to settle at 26,057.20. Market analysts projected upward movement toward 26,186 with an ambitious target of 26,800 while establishing support at 25,780. They noted that a complete trend reversal seemed unlikely for the trading session.
Technology firms dominated the gainers list with Infosys, HCLTech and Tech Mahindra leading advances on both major exchanges. Bajaj Finserv, Maruti and Power Grid faced selling pressure and ranked among the biggest decliners. The Nifty IT index jumped 1.84 percent to become the strongest sectoral performer, while Nifty Realty slipped 0.08 percent as the sole laggard. Broader indices posted modest gains with the Nifty MidCap 100 rising 0.44 percent and the Nifty SmallCap 100 adding 0.33 percent.
Speculation about a potential trade agreement between India and the United States boosted market sentiment. Foreign institutional investors maintained their purchasing activity for a fifth straight session on Tuesday, acquiring stocks valued at 96 crore rupees.
