Stock Market Today: The key domestic equity indices — Sensex, Nifty — traded higher in early trade on Thursday amid firm global cues and Brent crude declining to $106 after United States President Donald Trump's recent remark on a US-Iran war. In early trade, BSE Sensex was trading in positive territory at 75,522.92, up 204.53 points or 0.27 per cent. Nifty50 was quoted at 23,729.60, up 70.60 points or 0.30 per cent.

The BSE index opened the session with a huge gap-up of over 400 points at 75,732.42, compared with the previous day's closing of 75,318.39. The 30-share index jumped further to hit an early high at 75,945.79.  

Meanwhile, the rupee recovered 41 paise from its all-time closing low to 96.45 against the US dollar in early trade. 

"Perhaps the market is taking cues from President Trump’s remark that 'the conflict will end soon and oil prices will plummet.” But going by experience, President Trump’s words cannot be trusted and, therefore, we will have to see more tangible results," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

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Top Gainers And Losers

Gainers: BEL, Indigo, Asian Paints, Eternal, Tata Steel, Power Grid, L&T, Adani Ports, Axis Bank, HDFC Bank, ICICI Bank, and Bharti Airtel were among the top gainers from the Sensex basket.

Top Losers: Infosys, TCS, Bajaj Finance, Titan, Reliance, and Mahindra and Mahindra were trading lower.

"The recent market movements indicate a buy on dips market construct. The buy on dips strategy has been working well. It appears that the sustained selling by FPIs has also stopped since they were buyers on a couple of days recently. The correction in KOSPI and TAIEX and the FPI selling in these markets indicate concerns around bubble valuations in AI stocks in these markets. Weakness in the South Korean and Taiwanese markets can turn out to be a blessing in disguise for India," said Vijaykumar.