Indian benchmark indices opened higher on Thursday, extending gains after the Reserve Bank of India left interest rates unchanged, while Asian markets mostly fell as an AI-driven rally lost steam, according to The Times of India.
Indian Benchmarks Open Higher After RBI Rate Pause
The BSE Sensex opened at 78,782.43, up 201.43 points (0.26%) from its previous close of 78,581, while the NSE Nifty 50 opened at 24,641, gaining 16.35 points (0.07%) from its previous close of 24,624.65, the report said. At the time of filing, the Sensex was trading at 78,768.81, higher by 187.81 points (0.24%), while the Nifty was at 24,639.95, up 15.30 points (0.06%).
In the previous session on Wednesday, benchmarks ended on a mixed note after the RBI kept the repo rate unchanged for the fourth consecutive policy meeting. The BSE Sensex rose 152 points to close at 78,581, while the NSE Nifty edged up nearly 10 points to 24,624 in a volatile session, according to The Times of India. Markets swung sharply before recovering in late trade, supported by gains in banking, auto and capital goods stocks.
| Index | Previous Close | Opening | At Time of Filing | Change |
|---|---|---|---|---|
| BSE Sensex | 78,581 | 78,782.43 | 78,768.81 | +187.81 points (+0.24%) |
| NSE Nifty 50 | 24,624.65 | 24,641 | 24,639.95 | +15.30 points (+0.06%) |
| S&P 500 (Wednesday close) | — | — | 7,723.55 | -12.97 points (-0.2%) |
Asian Markets Retreat as AI Rally Fades
Asian shares were mostly lower on Thursday, with South Korea's Kospi dropping more than 4 per cent, according to The Times of India. The same update later cited the Kospi falling 3.64 per cent, with Japan's Nikkei declining 1.57 per cent. MSCI's Asia-Pacific index ex-Japan fell 0.69% as oil prices traded in a narrow range while investors assessed prospects of a US-Iran peace deal.
Technology stocks led the losses across the region, including:
- Samsung Electronics
- SK Hynix
- Kioxia
- Tokyo Electron
The declines followed a weaker Wall Street session where AI-related shares came under pressure despite strong earnings, as investors remained cautious about the high cost of AI investments, The Times of India reported.
Wall Street's Mixed Close and Steady Oil
Stocks meandered to a mixed finish on Wall Street Wednesday and remained close to their records, the report said. The S&P 500 fell 12.97 points, or 0.2%, to close at 7,723.55, after spending most of the day higher following a record close on Tuesday. Several large technology companies slumped, ultimately weighing down the market.
Oil prices held steady, with Brent crude trading near USD 79 a barrel. Uncertainty about the direction of the US war with Iran is still overhanging markets despite hopes for a reopening of the Strait of Hormuz, according to The Times of India.
New Closing Auction Mechanism in Focus
Investors also continued to adjust to the new closing auction mechanism introduced for F&O stocks earlier this week, the report noted. The mechanism added to the volatility seen in Wednesday's session, during which the benchmark indices swung sharply before late recovery.
The Times of India's live market coverage tracked the Sensex and Nifty as trading continued through Thursday, with the headline noting the Sensex had gained over 130 points while Nifty50 held above the 24,600 level.
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