Sensex-at-80,629,-Nifty-50-at-24,648

Sensex hovers near 80,600 and Nifty holds above 24,600 as IT & pharma stocks lead the charge

The Indian stock market opens today in a cautious mood. The Nifty 50 slips slightly by around 0.12 percent to about 24,648, while the BSE Sensex edges up roughly 0.11 percent to near 80,629 during mid-morning trade. Investors show restraint as they wait for important talks between the United States and Russia on the Ukraine crisis. 

These discussions have the potential to affect global trade flows and India’s trade relations with the United States. Broader indices, including small-cap and mid-cap shares, manage to record modest gains of around 0.4 percent.

A Steady Start Amid Global Caution

The day begins with a steady yet cautious approach. The Sensex rises by about 91 points, or around 0.11 percent, and the Nifty trades above the 24,600 mark. This mirrors a similar tone in other Asian markets, where most indices remain flat. The mood across global markets is one of careful positioning, with investors keeping an eye on international events that could shift sentiment.

Support from Previous Day’s Gains

Today’s movement comes after a strong finish in the previous session. On Wednesday, the Sensex climbed 304 points, or 0.38 percent, to close near 80,540. The Nifty rose by 132 points, or 0.54 percent, ending at 24,619. The gains are supported by easing domestic inflation data and softer U.S. retail inflation, both of which fuel hopes that the U.S. Federal Reserve may cut interest rates in September.

Domestic Inflation Eases, Boosting Confidence

Lower retail inflation in India adds to market confidence. In July, inflation fell to an eight-year low, suggesting a healthier economic environment and opening the door for stronger consumer spending. This improvement in the economic outlook comes at a time when global uncertainties remain high, making it an important stabilising factor for the local market.

Sectoral Momentum in IT, Pharma, and Healthcare

Several sectors contribute positively to market sentiment today. The IT and pharmaceutical sectors lead the way, each showing gains of around 0.7 to 0.8 percent. Healthcare stocks also see steady improvement, while the real estate segment moves up modestly. However, metals, energy, infrastructure, and FMCG stocks face some selling pressure. This sectoral split shows that investors are being selective, favouring defensive and export-oriented areas while staying cautious on cyclical industries.

Corporate Developments Drive Select Stocks

Positive corporate news helps certain companies outperform. Infosys rises by nearly 1.6 percent after announcing a joint venture with Australian telecom giant Telstra. This deal adds strength to the IT sector’s overall performance. Jubilant Foodworks and Vishal Mega Mart reach record highs following strong quarterly earnings. Jubilant Foodworks reports an impressive 60 percent year-on-year increase in profit after tax, while Muthoot Finance climbs about 10 percent after delivering better-than-expected results.

Global Cues Remain Mixed

Global markets send out mixed signals. Asian indices trade without a clear direction. Japan’s Nikkei shows weakness, while China’s Shanghai Composite posts small gains. Optimism about a possible rate cut by the U.S. Federal Reserve supports U.S. futures, helping to maintain some positive sentiment worldwide. In addition, cryptocurrency markets see a surge, with Bitcoin reaching a record level above $123,000, reflecting a stronger appetite for high-risk assets among global investors.

Outlook for the Short Term

With the Independence Day holiday on August 15 shortening the trading week, activity is expected to stay range-bound in the immediate term. Domestic-focused sectors, such as consumption and financial services, are likely to draw attention, but traders remain cautious as they wait for updates from the U.S.–Russia meeting. The outcome of these talks has the potential to become the key trigger for the next market move.

A Balanced Market Landscape

The Indian stock market today reflects a balance between optimism and caution. While easing inflation, strong earnings in select companies, and sectoral leadership in IT and pharma provide a positive foundation, the uncertainty surrounding global geopolitics prevents a sharp upward move. Overall, the market holds steady, with investors ready to react to fresh cues from both domestic and global developments.