CHENNAI: Indian equities held on to early gains through mid-morning trade on Thursday (November 20) with risk appetite improving on the back of steady foreign inflows and upbeat global cues. The Nifty 50 hovered a little above 26,000 and the Sensex inched higher in a narrow range, reflecting a market that is firm but not exuberant.
BSE Sensex was trading around 85,427, up approximately 241 points or 0.28 % at 11:50 AM.
Much of the positive tone was carried over from overnight strength in global technology shares, after Nvidia’s latest numbers lifted sentiment across Asian markets. That momentum filtered into domestic trading as investors resumed buying in large-cap counters. Early data showed foreign investors continuing to add to Indian equities, a trend that has offered crucial support over the past couple of sessions. Domestic institutions also remained net buyers, helping the indices stabilise above key levels.
Reliance Industries provided an early anchor to the market after the stock advanced following renewed optimism around its energy and new-business verticals. Select auto stocks, including Hero MotoCorp, traded with healthy gains on expectations of steady retail demand, while infrastructure-linked names such as NBCC also moved higher on project-pipeline visibility. The rally, however, was not broad-based, and several mid- and small-cap shares saw only mild participation, keeping the overall market breadth balanced.
Despite the steady upmove, traders remain conscious of the indices’ proximity to their previous record highs, which continue to act as a psychological barrier. With the Nifty still short of its September 2024 peak, the market appears hesitant to commit to a stronger breakout without clearer cues. Investors are also tracking global macro signals closely, particularly US economic data that could shape expectations for the Federal Reserve’s policy path. Any shift in the interest-rate narrative may quickly alter the flow of foreign money, which has been central to the recent rebound.
For now, the undertone remains cautiously constructive. A continuation of foreign buying, firm corporate updates and supportive domestic demand indicators could help the market stretch its gains. But the near-term landscape still carries sensitivity to global developments, leaving traders alert to any trigger that could stall the current momentum.