Stock Market Today: Sensex climbs above 78,000, Nifty near 24,400; M&M, Trent top gainers

Indian stock market benchmarks opened marginally higher on Thursday, tracking mixed global cues.

The BSE Sensex opened at 78,339.24 against its previous close of 77,958.52 and was trading 93.89 points, or 0.12 per cent, higher at 78,052.41 at around 9:16 AM.

The NSE Nifty 50 opened at 24,398.50 compared to its previous close of 24,330.95. The index was up 49.05 points, or 0.20 per cent, at 24,380.00 in early trade.

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Broader markets outperform benchmarks

In the broader market segment, buying interest remained strong. The Nifty MidCap and Nifty SmallCap indices were trading 0.36 per cent and 0.37 per cent higher, respectively, outperforming the benchmark indices in early trade.

FMCG drags, auto stocks shine

Among sectoral indices, the Nifty FMCG index emerged as the top loser during the opening session. The Nifty Private Bank, Nifty PSU Bank, and Nifty Realty indices also traded under pressure.

On the other hand, the Nifty Auto index outperformed other sectoral peers, supported by gains in select automobile counters.

Crude oil rises amid US-Iran tensions

Brent crude prices moved higher during Asian trading hours after geopolitical tensions escalated between the US and Iran. US President Donald Trump warned that Tehran could face heavy bombing if it failed to agree to a peace deal.

Brent crude’s May futures contract was trading 0.63 per cent higher at $101.91 per barrel on the Intercontinental Exchange.

Global markets remain supportive

At the time of writing, US markets remained firm overnight, led by gains in technology and broader market indices. The Nasdaq Composite surged 2.02 per cent, while the S&P 500 gained 1.46 per cent. Dow Jones Futures traded marginally higher, up 0.15 per cent.

Asian markets largely tracked the positive momentum. Japan’s Nikkei 225 jumped 5.69 per cent, while Taiwan’s weighted index advanced 2.04 per cent. Hong Kong’s Hang Seng Index and Indonesia’s Jakarta Composite also posted gains of 1.53 per cent and 1.00 per cent, respectively.

Commodities remain firm

Commodity prices traded higher across segments. Brent crude hovered near $101.79 per barrel, while WTI crude oil rose to $95.41.

Gold prices also remained firm amid geopolitical uncertainty and inflation concerns. The precious metal gained 0.28 per cent to trade near $4,704.72.

Q4 results in focus today

Several companies are scheduled to announce their March quarter earnings on Thursday, keeping stock-specific action active through the session.

Key companies slated to report Q4 results include

• ACME Solar Holdings
• Apollo Pipes
• Bajaj Holdings & Investment
• Bharat Forge
• Biocon
• CCL Products (India)
• Ceigall India
• Craftsman Automation
• Dabur India
• Escorts Kubota
• Gateway Distriparks
• Globus Spirits
• Gravita India
• Indoco Remedies
• Innova Captab
• Kennametal India
• Lupin
• MRF
• NOCIL
• NRB Bearings
• Pidilite Industries
• Prudent Corporate Advisory Services
• Route Mobile
• Sirca Paints India
• Sonata Software
• Stylam Industries
• Thermax
• Thyrocare Technologies
• Vijaya Diagnostic Centre
• V-Mart Retail
• Westlife Foodworld
• Wonderla Holidays