Nifty Snaps Seven-Session Losing Streak; IT, Financials Gain

Indian equities opened sharply higher Thursday, ending a seven-session losing streak, after a US Treasury announcement cooled bond-market stress and pulled global yields lower. The Nifty 50 opened at 24,225.45 and was trading at 24,198.40, up 120 points or 0.50%, as of 9:21 a.m. The Sensex gained 583 points to 77,492.86.

The trigger was an overnight recovery on Wall Street, where the S&P 500 snapped its own three-session slide. The US Treasury said it would double long-duration bond buybacks to at least $4 billion per operation. That brought the 10-year US yield down to 4.65% and pushed the Dollar Index below 99, a drop of more than 1%.

Infosys rose 1.29% to ₹1,134.30, leading gains among large-cap IT names. The stock carries an Alpha Score of 57 on AlphaScala's proprietary metric, indicating moderate momentum. Bajaj Finance added 1.38%, Kotak Mahindra Bank climbed 1.35%, and Shriram Finance gained 1.77%. On the losing side, Hindalco slipped 0.59%, ONGC fell 0.52%, and Coal India dropped 0.44%.

Sectorally, IT was the standout performer in the previous session. The Defence index was the worst, down 1.60%. Energy indices also closed lower by 1.20%. In Asia, South Korea's Kospi surged about 5% and Japan's Nikkei 225 advanced 1.45%, reinforcing the improved regional risk mood.

Hitesh Tailor, Technical Research Analyst at Choice Broking, said the US Treasury's measures helped calm bond-market stress. "Softer global yields and improved risk appetite could support a recovery in Indian equities, although elevated crude prices and geopolitical risks remain watch points," he said.

Foreign institutional investors bought equities worth ₹407 crore in the previous session, extending their buying streak to a second consecutive day. Domestic institutional investors purchased ₹3,973 crore worth of equities, marking their seventh straight session of net buying.

Technically, the gap-up opening took the Nifty directly into the 24,200–24,300 resistance zone. Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, cautioned that "the market has yet to demonstrate sustained buying conviction despite improving global cues." He added that "investors should avoid chasing the expected gap-up." A decisive close above 24,300 would be needed to confirm short-term stabilisation, he said.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that "one quick pullback rally is not ruled out if the market surpasses the 24,200 resistance mark." Below 24,000, selling pressure is likely to accelerate, he said.

The India VIX eased to 11.32, while the Put-Call Ratio stood at 0.70, reflecting a cautious derivatives setup. Brent crude remained elevated above $91 per barrel, and gold traded near $4,500 an ounce, supported by lower Treasury yields. US President Donald Trump's announcement of an "economic warfare" campaign against Iran kept West Asia tensions elevated, leaving the outlook for the Strait of Hormuz uncertain.

For broader context on how global yield moves feed into Indian markets, see market analysis.