Indian shares rise on metals, realty and lower crude

The Sensex opened 260 points higher at 74,575.24, while the Nifty rose 64 points to 23,334.70. Metal shares led sector gains, followed by real estate and cement, a pattern that suggests investors are betting on more durable domestic growth alongside better global risk appetite. Healthcare, autos, banking, pharma, energy and FMCG also traded higher, but technology was the clear laggard, with Nifty IT falling more than 1%.

That split is important. It tells you this was not a broad, indiscriminate rally; it was a rotation. The market rewarded economically sensitive sectors such as metals and property, both of which tend to benefit when growth expectations improve, while exporters and software names came under pressure as Tata Motors Passenger Vehicles, TCS, Infosys, Tech Mahindra and HCL Technologies fell as much as 3% in morning trade.

The global setup helped. US equities closed higher overnight, with the S&P 500 up 1.14% and the Nasdaq up 1.69%, while Asian markets also traded in the green. Brent crude slipped 1% to $103.61 a barrel and WTI eased to around $101, easing some pressure on import costs and inflation expectations. For Indian investors, softer oil is especially useful because it supports the macro outlook by reducing stress on the current account and leaving more room for consumer and corporate margins.

There is also a more defensive reason to like the day’s setup. Foreign institutional investors sold equities worth Rs 3,208 crore on Thursday, but domestic institutions bought Rs 3,617 crore, showing local money is still acting as a stabilizer when global flows turn cautious. That matters for anyone investing through cycles: markets with strong domestic support tend to recover faster once the selling exhausts itself.

Technically, the broader market still looks fragile. Analysts flagged an RSI reading of 29.95, a classic oversold level, and pointed to support for the Nifty in the 23,000-23,150 zone, with resistance at 23,350-23,450. In plain English, the market is still trying to prove that this is more than a bounce. But oversold conditions often matter most when they coincide with improving global cues and sector leadership from cyclicals.

For investors thinking in years rather than days, the message is straightforward: this is the kind of tape where selective buying can make sense. Banks, capital goods, autos and pharmaceuticals were cited as attractive long-term opportunities, while the primary market boom may be temporarily diverting attention from strong secondary-market names. That is not a reason to chase every dip, but it is a reason to keep a watchlist ready.

If global equities remain resilient and crude stays contained, the Indian market has a decent chance of extending this rebound. The real test will be whether metals and realty can keep leading while IT stabilizes and foreign selling cools. Until then, disciplined investors may want to treat weakness in quality names as a buying opportunity rather than a warning to sit on the sidelines.