Indian Stock Market Today: Nifty Reclaims 26,000, Sensex Surges Above 85,000
The Indian stock market witnessed a significant surge on Thursday, with the NSE Nifty 50 reclaiming the 26,000 level for the first time in over 52 weeks, while the BSE Sensex rose above 85,000. This upward trend can be attributed to the renewed momentum in talks between the US and India, as signaled by US President Donald Trump’s conversation with Prime Minister Narendra Modi about trade.
Textile Stocks Lead the Gains
Textile stocks like Kitex Garments, Welspun Living, and KPR Mills gained notably during early trade on Thursday. Kitex Garments lead the gains in the pack with nearly 11% gains, followed by Welspun Living which rose nearly 5%.
Hindustan Unilever Ltd. Share Price Rises Ahead of Q2 Results
Hindustan Unilever Ltd. share price rose to an over one-month high in Thursday’s session before the company’s second-quarter results, scheduled for release later today. India’s largest FMCG company may report a 1.3% year-on-year decline in net profit for the July-September period, according to Bloomberg estimate.
Hindustan Unilever Ltd. share price rose 1.76% to Rs 2,637.20 apiece, the highest level since Sept 11. To get faster updates on the second-quarter earnings of Hindustan Unilever Ltd, click here.
US President Donald Trump May Cut Tariffs on India
US President Donald Trump may cut tariffs on India to 15% from 50%. This move is expected to have a positive impact on the Indian stock market, as it may lead to increased trade between the two countries.
Indian Stock Market Outlook
The Indian stock market is expected to witness a strong festive season off-take, with the GST rate cut further boosting consumption. Foreign institutional investors’ positioning was weak, but buying seems to have started. Earnings growth is expected in H2, with valuations relatively cheap — 12-month forward PE at 20x.
On the National Stock Exchange Ltd., 11 sectoral indices were trading in green, while three were in red, and one remained flat out of 15.
Key Takeaways
- The NSE Nifty 50 reclaimed the 26,000 level for the first time in over 52 weeks.
- The BSE Sensex rose above 85,000.
- Textile stocks like Kitex Garments, Welspun Living, and KPR Mills gained notably during early trade on Thursday.
- Hindustan Unilever Ltd. share price rose to an over one-month high ahead of the company’s second-quarter results.
- US President Donald Trump may cut tariffs on India to 15% from 50%.
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