Stock Market Today: Bulls help D-Street open higher; Sensex above 83,800, Nifty near 25,850

Stock Market Today: Indian equity benchmark indices opened marginally higher on Thursday, February 19, tracking mixed global cues.

The BSE Sensex opened at 83,969.82 compared to its previous close of 83,734.25. In early trade at 9:15 AM, the index was trading at 83,849.05, up 114.80 points or 0.14 per cent.

The NSE Nifty 50 opened at 25,873.35 against its previous close of 25,819.35. The index was trading at 25,840.85, higher by 21.50 points or 0.08 per cent in early trade.

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Broader markets and sectoral indices show strength

In the broader markets, indices on the National Stock Exchange were trading in the green. The Nifty 100 index rose by 0.10 per cent. The Nifty Midcap 100 gained 0.13 per cent, while the Nifty Smallcap 100 advanced 0.24 per cent.

Among sectoral indices, buying was seen across most sectors. Nifty IT surged 1.22 per cent, emerging as the top gainer. Nifty Metal rose 0.65 per cent and Nifty Auto gained 0.27 per cent. Nifty PSU Bank advanced 0.35 per cent, while Nifty Pharma added 0.08 per cent.

However, some sectors remained under pressure. Nifty FMCG, Nifty Media, and Nifty Realty were trading lower in early trade.

Gold, silver prices recover after sharp fall

In the commodity market, gold prices rebounded after a sharp decline in the previous session. Gold was trading at Rs 155687 per 10 gm for 24 karat.

Silver prices also recovered after a steep fall on Wednesday. The metal was trading at Rs 242520 per kg, reflecting renewed buying interest.

Settlement holiday to delay transaction reflection

Meanwhile, there will be no settlement-related activities due to a clearing holiday on account of Chhatrapati Shivaji Maharaj Jayanti. All transactions in both cash and futures and options segments executed on February 18 and February 19 on the NSE and BSE will be settled and reflected in investors’ demat accounts on February 20.

Domestic investors support market; FIIs turn buyers

On the institutional front, domestic institutional investors remained net buyers on Wednesday. DIIs made net purchases worth Rs 440 crore.

Foreign institutional investors also turned net buyers, with net inflows of Rs 1154 crore. The inflows provided support to overall market sentiment.

Global markets provide supportive cues

Globally, US markets ended higher on Wednesday. Asian markets were largely trading in the green on Thursday morning, reflecting positive investor sentiment.

However, markets in China, Hong Kong, and Taiwan remained closed for the Lunar New Year holiday.

Japan’s Nikkei 225 index rose 0.89 per cent, while Singapore’s Straits Times index gained more than 1 per cent. South Korea’s KOSPI surged 2.5 per cent in early trade.

The latest Federal Reserve meeting minutes indicated a hawkish stance. Policymakers signalled willingness to keep rates elevated for longer and remain open to rate hikes if inflation rises. This pushed US bond yields higher and reduced expectations of early rate cuts.