Sensex, Nifty Open Higher Amid Global Rally; Auto and IT Lead Gains
India’s benchmark equity indices opened on a strong note Tuesday, buoyed by positive global cues and early buying in auto and IT stocks. The upbeat sentiment followed record highs in US markets, easing geopolitical concerns, and sustained domestic momentum.
As of 9:26 am, the BSE Sensex rose 188.66 points or 0.23% to 83,795.12, while the NSE Nifty 50 gained 54.80 points or 0.21% to trade at 25,571.85. Market experts attributed the rally to improved global risk appetite and supportive macroeconomic conditions in India.
“The global equity outlook has improved with US indices hitting new highs. Meanwhile, concerns over West Asian geopolitical tensions have eased, reducing downside risks,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
He added that the market’s near-term trajectory could be influenced by trade developments, especially progress on an India–US tariff deal, which could act as a key positive trigger.
Sectoral & Broader Market Highlights
- Nifty Bank edged up 0.09% to 57,364.70
- Nifty Midcap 100 advanced 0.25% to 59,887.65
- Nifty Smallcap 100 climbed 0.28% to 19,127.60
According to technical analysts, Nifty’s short-term trend remains firmly positive, supported by a strong position above its 5-day Exponential Moving Average (EMA).
“Nifty has partially filled the resistance gap created on October 3, 2024, between 25,640 and 25,740. A decisive move above 25,740 could pave the way for a rally toward the 26,000 mark. Immediate support lies at 25,400,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.
Top Gainers & Losers
Leading gainers on the Sensex included:
- Asian Paints
- BEL
- Bharti Airtel
- HDFC Bank
- Power Grid
- ITC
- HCL Technologies
- Tata Motors
- Hindustan Unilever
Top laggards were:
- Axis Bank
- Trent
- Tata Steel
- Sun Pharma
- Tech Mahindra
- Maruti Suzuki
- Eternal
FII-DII Activity and Global Market Snapshot
Despite high valuations, analysts believe strong domestic fundamentals and a weak US dollar (Dollar Index at 96.81) could limit foreign institutional investor (FII) outflows and even attract further buying.
- FIIs were net sellers on June 30, offloading equities worth ₹831.50 crore
- DIIs remained bullish, net buyers of ₹3,497.44 crore
Asian markets were mostly positive, with indices in China, Bangkok, Seoul, and Jakarta trading in the green. Japan, however, was marginally in the red.
On Wall Street, major indices closed higher in the previous session:
- Dow Jones: +275.50 pts (0.63%) at 44,094.77
- S&P 500: +31.87 pts (0.52%) at 6,204.94
- Nasdaq: +96.27 pts (0.47%) at 20,369.73
