CHENNAI: Indian equity markets opened on a mildly positive note on Thursday (Oct 9), as investors turned selective ahead of the quarterly earnings season. The Sensex and Nifty 50 edged up around 0.1 percent, with early gains in IT and metal stocks offset by some profit-booking in banking and financial shares. At 10.45 AM, the Sensex traded up 158 points at 81,932.
At the open, the Nifty hovered near 25,050 while the Sensex traded slightly above the 82,000 mark. IT majors saw buying interest ahead of Tata Consultancy Services’ (TCS) results later in the day, while the metal index climbed nearly 1.5% on firm global commodity prices. In contrast, the banking and financial space remained under pressure after a strong run earlier in the week.
Foreign portfolio investors turned net buyers after nearly ten days of selling, helping support sentiment. The rupee opened slightly firmer around 88.75 against the U.S. dollar, aided by a softer greenback and steady RBI intervention to curb volatility.
Globally, risk appetite improved as geopolitical tensions eased following signs of a truce in the Middle East, and U.S. bond yields steadied. Asian markets were mixed but largely stable.
Analysts expect the market to stay range-bound in the near term, with Nifty likely trading between 24,900 and 25,200. A clear breakout above 25,200 could trigger renewed buying momentum, while any weakness below 24,900 might invite short-term pressure.
Overall, the early tone remains cautiously positive, supported by foreign inflows and strong sectoral rotation, though traders remain watchful of Q2 earnings announcements and global cues.