Indian Markets Open Higher as Sun Pharma, Britannia Lead Gains

Market Update at 10:30 AM: Indian benchmark indices opened higher on Thursday, supported by strong earnings from Sun Pharma and Britannia Industries. Investor sentiment also improved following the inclusion of four domestic stocks in the MSCI Global Standard Index.

As of 9:19 a.m. IST, the Nifty 50 rose 0.18 per cent to 25,643.7, while the BSE Sensex advanced 0.34 per cent to 83,749.93. Indian markets had remained closed on Wednesday due to a local holiday.

Among sectors, twelve of the sixteen major indices recorded gains, while the broader Small-Cap and Mid-Cap indices traded flat.

Sun Pharma gained 1.5 per cent after reporting strong Quarterly Results, while Britannia Industries surged 4 per cent following a rise in its second-quarter profit. Paytm climbed 3.4 per cent as analysts termed its core performance in the second quarter healthy. The stock was also one of the four companies added to the MSCI Global Standard Index in the November reshuffle, a move expected to attract higher foreign inflows.

Pre-Market Update at 7:40 AM: On Thursday, November 6, equity benchmark indices — Sensex and Nifty 50 — are expected to open higher, tracking gains in global markets as investors’ risk appetite improved. As of 7:17 AM, the GIFT Nifty was up 54 points at 25,738, indicating a positive start for the Nifty 50.

Asian markets traded higher, mirroring overnight gains on Wall Street led by technology stocks. The domestic market remained closed on Wednesday, November 5, due to the Guru Nanak Jayanti holiday.

In the latest MSCI India Index reshuffle, Fortis Healthcare, One 97 Communications (Paytm), GE Vernova T&D India, and Siemens Energy India were added to the MSCI Global Standard Index. Meanwhile, Container Corporation of India and Tata Elxsi were excluded in the November update.

On Tuesday, November 4, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 1,067.01 crore, while Domestic Institutional Investors (DIIs) were net buyers for the ninth consecutive session, purchasing equities worth Rs 1,202.90 crore.

On November 4, Indian markets ended lower as broad-based profit booking outweighed gains in Bharti Airtel and Titan post their results. The Nifty 50 declined 165.70 points, or 0.64 per cent, to close at 25,597, while the Sensex slipped 519.34 points, or 0.62 per cent, to 83,459.15 — around 2.5 per cent below record highs. India VIX stayed largely unchanged, reflecting stable sentiment.

All major sectoral indices ended in negative territory. Nifty Financial Services fell 0.4 per cent, PSU Bank slipped 0.11 per cent, and Nifty IT declined 1.06 per cent amid mixed signals from the US Federal Reserve on rate cuts. Hero MotoCorp dropped 4.5 per cent following an 8 per cent year-on-year decline in October domestic volumes, dragging Nifty Auto down by 0.86 per cent. Broader indices, including Nifty Midcap and Smallcap, also ended lower.

US stock markets closed higher on Wednesday as upbeat earnings and positive economic data boosted sentiment. The Dow Jones Industrial Average rose 225.76 points, or 0.48 per cent, to 47,311. The S&P 500 gained 0.37 per cent to 6,796.29, and the Nasdaq Composite advanced 0.65 per cent to 23,499.80.

Gains were led by technology stocks, including Advanced Micro Devices, while optimism grew after the Supreme Court’s questioning of tariff policies raised hopes for duty reductions.

The dollar index edged down 0.1 per cent to 99.67, staying just below multi-month highs. Gold prices remained steady, slipping 0.2 per cent to USD 3,973.15 per ounce, after a 1.2 per cent rise on Wednesday.

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Disclaimer: The article is for informational purposes only and not investment advice.