Markets Open Firm on Global Cues; Nifty Eyes 25,800 Resistance as IT, Auto Stocks Gain
India’s benchmark indices started Wednesday’s session on a strong footing, tracking positive global cues and early buying interest in IT and auto stocks. Investors showed optimism amid hopes of an India–US trade agreement and stable macroeconomic conditions.
At 9:23 am, the BSE Sensex was up 225.5 points or 0.27%, trading at 83,922.79, while the NSE Nifty 50 gained 58.75 points or 0.23% to 25,600.55.
Analysts noted that Nifty has broken past the previous consolidation zone of 24,500–25,000 and is now trading within a higher range of 25,200 to 25,800.
“A potential India–US trade deal could propel Nifty toward the upper end of the range. However, sustaining those levels will require stronger triggers and consistent buying support,” said market analysts.
Sectoral Trends and Technical Outlook
Despite broader optimism, the Nifty Bank index was marginally lower by 45.20 points or 0.08%, trading at 57,414.25.
Meanwhile:
- Nifty Midcap 100 advanced 0.25% to 59,809.25
- Nifty Smallcap 100 inched up 0.14% to 19,082.10
“On the technical charts, Bank Nifty is expected to find immediate support at 57,300, followed by 57,000 and 56,800. On the upside, resistance is seen at 57,650, 57,800, and eventually 58,000,” said Hardik Matalia, Derivative Analyst at Choice Broking.
Top Movers: Sensex Gainers and Losers
Top gainers in the Sensex pack included:
- Infosys
- Tech Mahindra
- ICICI Bank
- TCS
- Tata Steel
- Bharti Airtel
- HCL Technologies
- Adani Ports
Major laggards were:
- Asian Paints
- HDFC Bank
- BEL
- Eternal
FII-DII Activity and Global Market Snapshot
Foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,970.14 crore on July 1. In contrast, domestic institutional investors (DIIs) remained net buyers, purchasing stocks worth ₹771.08 crore, providing support to the markets.
Asian markets presented a mixed picture:
- Trading in red: Bangkok, China, Japan, Seoul, Jakarta
- Trading in green: Hong Kong
Overnight in the US, Wall Street closed on a mixed note:
- Dow Jones surged 400.17 points or 0.91% to 44,494.94
- S&P 500 slipped 6.90 points or 0.11% to 6,198.05
- Nasdaq declined 166.85 points or 0.82% to 20,202.89
