India’s benchmark equity indices opened higher on Tuesday, lifted by strong global cues and broad-based buying in key sectors such as PSU banks, auto, and IT.
By 9:25 AM, the BSE Sensex had gained 409.4 points (0.51%), reaching 80,627.85, while the NSE Nifty rose 118.10 points (0.49%) to 24,446.60.
The Nifty Bank index advanced 492.90 points (0.89%) to trade at 55,925.70.
Similarly, the Nifty Midcap 100 climbed 490.90 points (0.43%) to 54,931.15, and the Nifty Smallcap 100 gained 183.15 points (1.10%), reaching 16,860.05.
Analysts expect Nifty to find support near 24,250, with immediate resistance at 24,500, followed by 24,600 and 24,700.
For Bank Nifty, Hardik Matalia of Choice Broking noted key support levels at 55,300, 55,000, and 54,700, with resistance anticipated at 55,600, 55,900, and 56,200.
Among the top gainers in the Sensex pack were IndusInd Bank, Bajaj Finserv, Axis Bank, Tata Motors, Mahindra & Mahindra, Titan, SBI, Bajaj Finance, Eicher Motors, Maruti Suzuki, and Power Grid.
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In contrast, UltraTech Cement, Nestlé India, Sun Pharma, and Asian Paints were among the top losers in early trade.
According to Vaishali Parekh, Vice President–Technical Research at PL Capital Group, Sensex respected its critical 200-day moving average at the 79,100 level and rallied toward the 61.8% Fibonacci retracement level, which has improved overall market sentiment.
“To trigger a meaningful breakout, Sensex needs a decisive move above the 80,400 resistance zone, which could pave the way for further gains,” she said.
Asian markets showed mixed performance. While China and Bangkok traded in the red, indices in Jakarta, Seoul, Hong Kong, and Japan posted gains.
In the previous trading session, the Dow Jones Industrial Average in the US added 0.28% to close at 40,227.59, the S&P 500 edged up 0.06% to 5,528.75, while the Nasdaq slipped 0.10% to 17,366.13.
On the institutional side, Foreign Institutional Investors (FIIs) recorded their ninth consecutive session of net buying with ₹2,474.10 crore in inflows on 28 April.
Domestic Institutional Investors (DIIs) also marked their second straight session of net purchases, investing ₹2,817.64 crore.
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