Sensex, Nifty Open Higher As Auto Stocks Lead Amid Mixed Global Cues

On Wednesday morning, Indian equity benchmarks opened in the green, buoyed by gains in the auto sector.

At 9:29 AM, the Sensex climbed 178 points (0.23%) to 82,381, while the Nifty rose 64 points (0.26%) to 25,125. This uptrend followed mixed cues from global markets.

Auto stocks led the rally, with top gainers including Tata Motors, Maruti Suzuki, Bajaj Auto, and Mahindra & Mahindra.

Meanwhile, media and real estate sectors underperformed. Bank stocks made modest advances, with the Nifty Bank index edging up by 0.09%.

In contrast, broader markets showed weakness. The Nifty Midcap 100 index slipped 0.13% to 59,028, and the Nifty Smallcap 100 index fell 0.35% to 18,826.

Sectoral Trends

Among the sectoral indices, PSU banks, financial services, metal, energy, and private banking traded in the green. FMCG, realty, and media sectors declined.

The overall market mood appeared cautiously optimistic, with mixed participation across sectors.

According to Vikram Kasat, Head of Advisory at PL Capital, the Nifty is struggling to close above its 40-hour exponential moving average (HEMA), which now stands at 25,104.

“A sustained move above this level, followed by a close above 25,182, could indicate a trend reversal by confirming a higher top and higher bottom pattern,” Kasat said. He identified 24,882 as a critical support level.

Asian markets presented a mixed picture. Japan’s Nikkei 225 surged 3.25% after the announcement of a trade deal with the US. Shanghai and Hong Kong indices were also in positive territory, while Seoul and Jakarta saw declines.

In the US, markets ended largely flat, with the Nasdaq dipping 0.39% as investors exited tech stocks. The Dow Jones, however, closed slightly higher.

On the institutional side, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹3,548 crore on July 22. In contrast, domestic institutional investors (DIIs) remained consistent buyers for the 11th straight session, investing ₹5,239 crore.

Analysts suggest that a sustained breakout above 25,150 could pave the way for Nifty to test 25,250.

However, caution remains due to uneven global sentiment and selective sectoral strength.

Investors will continue monitoring macro cues, earnings updates, and institutional flows for near-term direction.

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