Sensex surges 150 pts, Nifty above 25,250 led by IT, metal stocks; all eyes on LG Electronics debut

Nifty opens higher on strong global cues, HCL Tech and metal stocks lead the early gains

Indian benchmark indices opened higher on October 14, recovering from a brief pause in trading, buoyed by strong global cues. Broader markets also showed resilience, with the India VIX easing after yesterday’s spike. Attention now turns to the much-anticipated LG Electronics listing today, where investors are expecting a blockbuster debut.

Around morning, Sensex rose by 173.27 points, or 0.21 percent, to close at 82,500.32, while the Nifty gained 60.10 points, or 0.24 percent, to end at 25,287.45. On the broader market, 1,837 shares advanced, 1,060 shares declined, and 159 shares remained unchanged.

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In early morning trade, the Nifty IT index ended its two-day losing streak, with HCL Technologies leading the gains. The company posted a strong second-quarter performance, reporting higher revenue growth and securing significant deal wins.

Brokerages have reacted positively, raising earnings-per-share estimates for FY26 through FY28. Jefferies, for instance, issued a buy rating with a target price of Rs 1,730 per share, while CLSA assigned an outperform rating, noting that an 18-19 percent margin recovery in FY27 could be a key catalyst for re-rating the stock.

Beyond IT, metal stocks also gained momentum. The Nifty Metal index rose by one percent, led by Hindustan Zinc, as silver prices touched an all-time high of $53 per ounce, driving demand for safe-haven assets. Meanwhile, the pharma and auto sectors faced some selling pressure, declining up to 0.5 percent in early trade.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, highlighted key market levels. On the downside, 25,150/82,000 and 25,100/81,800 are important support zones. Immediate resistance for the bulls may lie between 25,350-25,400/82,500-82,800. If the market falls below 25,150/81,800, it could retest the 25,000-24,950/81,500-81,300 range. Conversely, failing to surpass 25,330/82,655 would be a negative signal for the broader market.

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