Indian Markets Start Tuesday With Modest Gains; Auto, IT, Financials Lead Early Rally

Indian equities opened the day with modest gains on Tuesday, boosted by positive global cues and early buying in the auto, IT and financial services sectors.

By 09:22 AM, the Sensex was up 122.13 points, or 0.15 per cent, at 82,282.10, while the Nifty rose 35.85 points, or 0.14 per cent, to 25,238.20.

In sector-specific indices, the Nifty Bank slipped 26.30 points, or 0.05 per cent, to 55,258.45.

The Nifty Midcap 100 declined 12.95 points, or 0.02 per cent, to 58,686.55. The Nifty Smallcap 100, meanwhile, inched up 4.25 points, or 0.02 per cent, to 18,293.15.

Market experts said the Nifty’s near-term upward momentum will depend on whether the index breaches the 25,200–25,000 support zone.

Early gains may persist if the index stays above 25,238, but a sustained rally would require a rise above the 25,278–25,335 range, they added.

Within the Sensex, Maruti Suzuki, M&M, Tata Motors, Infosys, HDFC Bank, Tech Mahindra and Axis Bank led the gains.

On the downside, Ultratech Cement, Sun Pharma, Trent and Asian Paints were the main laggards.

Across Asia, Jakarta, Bangkok, Japan, and Seoul markets traded higher, while Hong Kong and China saw losses.

In the US, the Dow Jones Industrial Average ended at 46,381.54, up 66.27 points or 0.14 per cent.

The S&P 500 added 29.39 points, or 0.44 per cent, to 6,693.75, while the Nasdaq rose 157.50 points, or 0.70 per cent, closing at 22,788.98.

Analysts noted that persistent foreign institutional investor (FII) selling has weighed on the market since September 2024. This trend is driven by high valuations in India and comparatively attractive opportunities overseas.

FIIs sold equities worth Rs 1,21,210 crore in 2024, and have offloaded Rs 1,79,200 crore so far this year.

On 22 September, FIIs were net sellers, offloading equities worth Rs 2,910.09 crore. Meanwhile, domestic institutional investors (DIIs) purchased shares totalling Rs 2,582.63 crore.

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