Indian benchmark indices Sensex and Nifty opened on a positive note on Thursday, driven by gains in IT stocks and favorable global cues. Softening US inflation data has raised hopes of a dovish monetary policy stance by the Federal Reserve, boosting investor sentiment.

Key Takeaways

  • BSE Sensex rose by 185.77 points to reach 77,400.40, while NSE Nifty climbed 42.15 points to 24,132.60.
  • IT heavyweights like HCL Tech, Tech Mahindra, and Infosys led the early market gains.
  • Cooling US inflation has fueled hopes of a more accommodative Federal Reserve policy, strengthening global equities.

The Indian stock market registered gains in early trade on Thursday, July 16, 2026, as the benchmark BSE Sensex surged 185.77 points to open at 77,400.40. Simultaneously, the broader NSE Nifty 50 advanced by 42.15 points to trade at 24,132.60. The upward momentum was primarily steered by information technology (IT) stocks, which witnessed strong buying interest following encouraging macro data from global markets.

Major Gainers and Losers

Among the top gainers in the Sensex pack were IT giants such as HCL Technologies, Tech Mahindra, and Infosys, alongside major players like Mahindra & Mahindra, Maruti Suzuki, and Bajaj Finance. On the flip side, some selling pressure was observed in counters like Bajaj Finserv, Axis Bank, and Bharat Electronics. The market sentiment remained cautiously optimistic as Brent crude prices softened slightly by 0.31% to trade at $84.69 per barrel, easing localized inflationary concerns.

Global Catalysts and US Fed Policy

The primary catalyst for the positive opening was the overnight performance of Wall Street. US markets closed higher on Wednesday, with the S&P 500 gaining 0.38% and the tech-heavy Nasdaq rising 0.62%. The rally in New York was supported by softer-than-expected wholesale inflation data, which has led market participants to speculate that the US Federal Reserve might adopt a less aggressive stance regarding interest rate hikes in the upcoming policy reviews.

Market Outlook and Earnings Season

Market experts suggest that domestic indices are currently operating with a positive bias but might trade within a narrow range. The impending Q1 corporate earnings season is expected to dictate the next major directional movement for Indian equities. Stock-specific action will remain high as India Inc. begins reporting its quarterly performances. Meanwhile, Foreign Institutional Investors (FIIs) remained net sellers on Wednesday, offloading equities worth ₹735.83 crore, which kept the overall gains somewhat capped.

Currency Movements and Asian Markets

On the currency front, the Indian rupee slipped by 6 paise to trade at 96.31 against the US dollar in early deals, reflecting some pressure from capital outflows. Regionally, Asian markets displayed mixed trends; South Korea's Kospi suffered a sharp decline of 6.31%, and Japan's Nikkei 225 traded lower, while Hong Kong's Hang Seng index managed to hold onto positive territory, mirroring the selective optimism in the global financial ecosystem.