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Mumbai: The BSE Sensex jumped 563.77 points to 82,473.41 in early trade on Thursday. The NSE Nifty gained 182.90 points to 25,340.40. The Stock market benchmark indices surged as PSU banks, Services and Auto stocks gained. The global sentiment improved after easing geopolitical trade tensions, lifting the investor sentiment.

Major gainers from the Sensex pack: Trent, Mahindra & Mahindra, Kotak Mahindra Bank, Eternal, Asian Paints, Adani Ports, Bharat Electronics Ltd, State Bank of India, Sun Pharmaceuticals, Bajaj Finserv, and Tata Steel. ICICI Bank traded marginally down.

2 lakh short contracts in the market

“President Donald Trump has withdrawn from his threat to ‘annex Greenland by force, if necessary.’ Instead, in Davos on Wednesday he said ‘we have reached a framework of a future deal on Greenland.’ More importantly, the message that the US would ‘refrain from imposing tariffs on Europe’ takes away the threat of a US- Europe trade war which was dragging the markets down.

“The consequent relief rally in the market on Thursday can be significant since there are about 2 lakh short contracts in the market and the market construct is right for short-covering,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, told PTI.

The expert said Q3 FY26 Results of corporates have been affected by higher provision for the new labour code commitments, but the market will not be impacted that much as it is a one time commitment.

South Korea’s Kospi index and Japan’s Nikkei 225 index traded in positive territory, while Hong Kong’s Hang Seng index and Shanghai’s SSE Composite index were down. The US stock markets settled in Green in overnight deals on Wednesday. Brent crude, the global oil benchmark, appreciated 0.14 per cent to USD 65.33 per barrel.

Foreign institutional investors continued with their selling spree as they offloaded equities worth Rs 1,787.66 crore on Wednesday. Domestic Institutional Investors (DIIs) infused Rs 4,520.47 crore to buy stocks.

The 30-share Sensex declined 270.84 points to end at 81,909.63. The 50-share Nifty settled with 75 points losses at 25,157.50.

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