After three sessions of declines, India’s benchmark indices staged a powerful recovery on Thursday morning. Fueled by receding fears of trade disruptions tied to Greenland, the BSE Sensex opened sharply higher by over 500 points at 82,459.66, compared to Wednesday’s close of 81,909.63. Nifty 50 mirrored the enthusiasm, debuting at 25,344.15 versus 25,157.50.
Early trade saw the Sensex at 82,432.69 (up 523.06 points, 0.64%) around 9:18 AM, while Nifty hit 25,310.05 (up 152.55 points, 0.61%). All Nifty indices traded in the green, reflecting uniform strength.
Momentum built quickly, pushing Sensex gains beyond 700 points momentarily. Midcap and Smallcap indices outperformed, with 1.4% and 1% rises respectively.
Across sectors, PSU Banks topped charts at 2% up, with Auto, Banking, IT (0.9%), and Metals (0.8%) close behind. Sensex heavyweights like Tata Steel, Adani Ports, Asian Paints, BEL, SBI, Kotak Mahindra Bank, Sun Pharma, Trent, Mahindra & Mahindra, Bajaj Finserv, InterGlobe Aviation, and ITC all surged over 1%.
Notably, 29 of the 30 Sensex constituents advanced, sparing only ICICI Bank.
Geojit Financial Services’ Dr. VK Vijayakumar attributes the bounce to Trump’s retreat from aggressive Greenland rhetoric, paving way for a deal framework. The bigger win: hints of sparing Europe from tariffs, averting a transatlantic trade spat that had weighed on sentiments.
‘This relief is manifesting in a rally, aided by 2 lakh short contracts ripe for covering,’ he explained. Short-covering could propel markets higher. Q3 profits may show labor code-related provisions, but as one-time costs, they won’t derail the bull run.
As trading progresses, eyes remain on sustaining this vigor amid global cues.