NIFTY50 opens above 25,300 mark, SENSEX up 307 points; Bajaj Finance, Jio Financial top contributors

The Indian stock market opened positive for the third consecutive day on Thursday, June 26, following its Asian peers amid support from the metal stocks.

The broader market also remained positive, with both Nifty Midcap 100 and Nifty Smallcap 100 advancing 0.07% and 0.12%, respectively.

Among sectors, Nifty Metal took the lead among gainers, rising 0.90%, while Nifty Realty (0.82%) fell the most. The market's breadth also remained in favour of bulls in the early session.

According to exchange data, on Wednesday, the foreign institutional investors (FIIs) sold equities worth ₹2,427.74 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹2,372.96 crore worth of equities.

On the global front, the US stocks on Wednesday settled mixed after two days of rallies as the Israel and Iran ceasefirecontinued to hold. However, investors were cautious amid congressional testimony from Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average slipped 106.59 points, or 0.25%, to close at 42,982.43; the S&P 500 remained flat at 6,092.16; and the Nasdaq Composite rose 61.02 points, or 0.31%, to close at 19,973.55.

Tracking Wall Street, the stocks in the Asian market also remained mixed as investors weighed geopolitical, economic and fiscal uncertainties as they braced for US President Donald Trump's deadline on tariffs. 

Hong Kong's Hang Seng was trading down 0.48% at the 24,357.48 level, while the Shanghai Composite was trading at the 3,459.66 level, rising 0.11%.

South Korea’s Kospi was also seen lower by 1.63% to 3,056.66 levels. However, Japan's benchmark Nikkei 225 was trading at 39,452.08 levels, jumping 1.34%.

Bajaj Finance was the top contributor on the index, jumping 2.16%, followed by Jio Financial Services (2.06%), Shriram Finance (1.55%), Grasim Industries (1.35%) and Bharat Electronics (1.35%).

On the other hand, Dr Reddy’s (-1%), Tech Mahindra (-0.63%), Trent (-0.38%), Hero MotoCorp (-0.31%) and Eicher Motors (-0.24%) were among the top losers on the 50-share index.

As many as 2,492 stocks traded on the NSE during the early session, among which only 1,573 stocks were trading in the green, 858 in the red and 61 shares remained unchanged.

As many as 38 stocks hit their one-year high in the early trade, while 14 stocks touched their 52-week low.

Further, 48 stocks hit their upper circuits while only 18 hit their lower circuits.

India VIX, the volatility gauge, was trading 1.89% higher at 13.21 levels.