Sensex, Nifty gain today on positive global cues; Coal India, ONGC stocks lead as energy stocks rally

Share Markets Update: Sensex, Nifty Today

• Sensex rebounds 500 points after three days of sharp losses
• Financial, energy, and metal stocks lead early market gains
• Volatility eases but analysts warn of ongoing geopolitical risks

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Indian benchmark indices Sensex and Nifty traded higher on Thursday morning but marginally pared early gains as investors remained cautious after the recent selloff, even as energy and metal stocks supported the market. At 09:45 am, the Sensex was up about 350 points or over 0.4 percent at 79,460, while the Nifty rose over 100 to 24,590. Market breadth remained positive, with 2,149 shares advancing against 1,048 declines.

Energy stocks led the gains. Coal India shares jumped 3.29 percent, while ONGC gained 2.69 percent as higher global crude prices continued to support upstream energy companies. Adani Ports rose 2.13 percent and Reliance Industries gained about 2.08 percent, adding to the upward momentum.

Other gainers included Hindalco, Bharat Electronics, and Larsen & Toubro, which advanced around 1-1.5 percent. Auto major Eicher Motors, power producer NTPC, and Sun Pharma also traded higher.

On the downside, information technology stocks came under pressure. HCLTech fell about 1.27 percent, TCS declined around 1 percent, and Tech Mahindra slipped nearly 0.9 percent, weighing on the Nifty IT index, which dropped about 0.8 percent. Among other laggards were InterGlobe Aviation (IndiGo), Asian Paints, Hindustan Unilever, Grasim, and Titan Company, each declining modestly.

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Sectorally, Nifty Oil & Gas and Nifty Energy indices rose over 1.5 percent, while Nifty Metal, Pharma, and Realty indices also traded higher. In contrast, Nifty IT remained the only major sector in the red. Market volatility eased further, with the India VIX declining about 8.7 percent to 19.30, suggesting some cooling in risk perception after the recent spike triggered by geopolitical tensions.

The rebound comes after Indian equities fell sharply over the past three sessions amid rising crude prices and escalating tensions between the United States and Iran. Global cues improved after U.S. markets ended higher overnight supported by reports that Iran had signalled openness to diplomatic talks and assurances from U.S. President Donald Trump about stabilising oil markets. Asian markets also moved higher in early trade, helping sentiment recover after three days of heavy global selling.

But analysts said volatility is likely to persist as investors continue to monitor developments related to the Middle East conflict and oil supply risks. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said markets are likely to react sharply to developments related to the conflict, particularly any disruptions to oil supply. “From the market perspective, the problem with an ongoing war is that sudden developments like attacks on oil facilities can impact the market. If crude spikes, the market will be impacted,” he said.

Technically, analysts said the 24,300 level on the Nifty remains a key support, while the 24,600-24,800 band could act as a near-term resistance zone if the rebound sustains.

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