Markets opened higher on Thursday morning, riding a wave of positive global cues after strong earnings from U.S. chipmaker Micron Technology eased fears over artificial intelligence spending, while a sharp fall in crude oil prices improved India's macroeconomic outlook.

The Sensex, which closed at 76,991.22 on Tuesday, opened at 77,391.07 and was trading at 77,335.31, up 344.09 points or 0.45 per cent, as of 9.20 AM. The Nifty 50, which ended the previous session at 24,021.65, opened at 24,125.85 and was trading at 24,128.30, up 106.65 points or 0.44 per cent.

The positive opening follows Tuesday's strong recovery, when the Nifty gained 197.55 points to reclaim the 24,000 mark, supported by banking, financials, and IT stocks. Bank Nifty led the charge, closing at 58,150.35, up 966.60 points or 1.69 per cent.

Micron Technology surged 15 per cent in after-hours trading on Wall Street after posting fiscal third-quarter results that beat analyst expectations and guiding for current-quarter revenue of $50 billion, up sharply from $11.3 billion a year earlier. Qualcomm gained 14 per cent after raising its non-handset revenue guidance for fiscal 2029 to $40 billion, nearly double its earlier forecast of $22 billion. Asian markets responded strongly, with South Korea's Kospi surging nearly 6 per cent and Japan's Nikkei gaining over 2 per cent.

Among Nifty gainers in early trade, Mahindra & Mahindra led with a rise of 2.43 per cent, trading at ₹3,139.10 against a previous close of ₹3,064.50. IndiGo gained 2.27 per cent to ₹5,325.30, while Shriram Finance climbed 2.12 per cent to ₹1,040.60. Tata Motors PV rose 2.04 per cent to ₹356.85, and Maruti Suzuki advanced 2.02 per cent to ₹13,516 against a previous close of ₹13,248.

On the losing side, Hindalco was the biggest decliner, falling 1.62 per cent to ₹960.80 from a previous close of ₹976.60. Eternal slipped 0.78 per cent to ₹254.35, BEL fell 0.63 per cent to ₹410.95, Titan dropped 0.48 per cent to ₹4,303.20, and Infosys edged down 0.47 per cent to ₹1,051.60.

The most significant macro driver for Indian markets remains crude oil. Brent crude has fallen more than 10 per cent this week and over 21 per cent for the month, slipping below $74 per barrel as supply concerns eased following an initial accord to end the U.S.-Israel conflict with Iran. Dr. VK Vijayakumar of Geojit Investments said... "The biggest positive for India is Brent crude falling to below $73 level. With this, the CAD and BoP deficits which were threatening India's macro stability have ceased to be serious concerns."

The rupee opened stronger at 84.30 against the dollar, supported by lower crude import costs and foreign inflows into Asian bonds, which rose to a three-month high in May. RBI Governor Sanjay Malhotra stated... "It is premature to discuss rate hikes," adding that the central bank does not target any specific exchange rate.

Gold fell over 2.7 per cent to around $3,998 per ounce, breaching the $4,000 mark for the first time since November 2025, pressured by a rising dollar. The Dollar Index climbed to 101.80, its highest since May 2025, as markets priced in a 66 per cent probability of a Fed rate hike by September.

Foreign Institutional Investors remained net sellers, offloading equities worth ₹1,843 crore on Tuesday. Domestic Institutional Investors, however, extended their buying streak to a third consecutive session, purchasing equities worth ₹3,637 crore, absorbing foreign selling pressure.

Shrikant Chouhan of Kotak Securities noted... "As long as the market is trading above 23,900, the pullback structure is likely to continue," adding that the rally could extend to 24,200–24,300. On the downside, a breach of 23,900 could see the market retest 23,750–23,800.

Indian markets will remain closed on Friday for Muharram, meaning Monday's session will discount two days of global developments, including the U.S. PCE inflation data due this week — a key input for the Federal Reserve's rate decisions.

Published on June 25, 2026