Mumbai: Indian equity indices opened positively on Tuesday, driven by favorable cues from Asian markets. As of 9:55 a.m., the Sensex had risen by 212 points, or 0.27%, reaching 77,553, while the Nifty had increased by 53 points, or 0.23%, to stand at 23,591.
Significant buying activity was observed in midcap and smallcap stocks. The Nifty Midcap 100 index advanced by 265 points, or 0.48%, to 55,842, and the Nifty Smallcap 100 index climbed by 202 points, or 1.11%, to 18,417.
Within the Sensex pack, Ultratech Cement, HDFC Bank, M&M, Axis Bank, SBI, Bharti Airtel, Bajaj Finance, and Tata Steel emerged as top gainers. Conversely, HCL Tech, Bajaj Finserv, NTPC, Asian Paints, Infosys, and TCS were the major losers.
Asian markets exhibited a bullish trend, with Tokyo, Hong Kong, Bangkok, and Seoul in positive territory, while Shanghai and Jakarta registered declines. U.S. markets closed higher on Monday. In the commodities market, Brent crude was priced at $85 per barrel, and WTI crude stood at $81 per barrel.
Mandar Bhojane, a Research Analyst at Choice Broking, commented, “On the daily chart, Nifty formed a bullish piercing candlestick pattern with substantial volume, signaling a bullish reversal from the support level of 23,400.”
He further noted, “If the index closes above the 23,600 level, it may advance to 23,800 and 24,000 levels in the coming days. Conversely, if the price breaks below the 23,300 level, it could further correct to the 23,000 level.”
Among the sectoral indices, PSU Banks, Auto, Financial Services, Metal, and Media were the primary gainers, whereas IT, FMCG, and Realty were the main laggards.
