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    Share Markets Volatile Ahead Of Economic Survey, Sensex Bleeds Over 150 Points, Nifty Under 25,300

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    Indian stock markets remained highly volatile on Thursday morning, indicating a break from the gaining rally seen over the last two sessions. The BSE Sensex rang the opening bell below 82,200, crashing more than 150 points, while the NSE Nifty50 started the day under 25,300, slipping a little over 50 points, as of 9:15 AM.

    However, the GIFT Nifty slipped 30 points and touched 25,369, around 8:42 AM this morning, giving indications of a volatile session ahead for equities. In the pre-open session, the Sensex climbed almost 100 points and crossed 82,400, while the Nifty rallied about 130 points and surpassed 25,450, as of 9:02 AM.

    On the 30-share Sensex, L&T, Tata Steel, NTPC, PowerGrid, and Bharti Airtel stood among the stocks in green. Meanwhile, the laggards were dominated by Maruti, Asian Paints, Titan, HUL, and IndiGo.

    In the broader markets, the Nifty Smallcap100 rose 0.40 per cent. At the same time, the Financial Services slipped 0.35 per cent. Sectorally, the Metal index stood out with gains of 1.24 per cent, while the IT index bled 1.16 per cent.

    How Did Markets Fare Yesterday?

    Notably, both benchmarks extended their winning streak for a second consecutive session on Wednesday, ending sharply higher, supported by broad-based buying in industrial, energy and metal stocks amid renewed optimism on the global trade front following the landmark India-EU free trade agreement (FTA).

    Positive cues from overseas markets, coupled with strong domestic institutional buying and stock-specific triggers, helped equities sustain momentum through the session, market participants said.

    The Sensex jumped 487.20 points, or 0.60 per cent, to close at 82,344.68. The Nifty also registered strong gains, climbing 167.35 points, or 0.66 per cent, to settle at 25,342.75.

    India-EU FTA Optimism Lifts Market Sentiment

    Investor confidence continued to draw strength from the rub-off effect of the recently concluded India-EU free trade agreement. The pact, billed as the ‘mother of all trade deals’, is expected to create a market of nearly two billion people and significantly improve trade and investment flows between India and the European Union.

    Under the agreement, which accounts for almost a quarter of global GDP, tariffs on 99 per cent of Indian exports to the EU will be reduced, while duties on more than 97 per cent of the EU’s exports to India will be cut, according to officials. The development has bolstered expectations of stronger export-led growth and long-term economic benefits.

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