Sensex, Nifty Open Higher; Global Sentiment Lifts Indian Markets

The Indian stock market opened in the green on Tuesday, buoyed by upbeat global cues and continued buying interest in key sectors.

The Nifty climbed above the 25,500-mark in early trade, while the Sensex also saw a healthy uptick, setting the tone for a potentially strong trading session.

At 9:26 AM, the Sensex was up by 188.66 points or 0.23%, trading at 83,795.12.

Meanwhile, the Nifty rose by 54.80 points or 0.21%, reaching 25,571.85.

Gains were led by the auto and IT sectors, which attracted investor interest amid renewed optimism about global economic stability.

Analysts cited the record highs in US markets and diminishing fears over West Asian tensions as key drivers of the current bullish sentiment.

Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, “The global equity mood remains positive, and an India-US trade deal could offer additional impetus. However, any setback on the tariff front might dampen market enthusiasm.”

Broader market performance

Nifty Bank rose modestly by 51.95 points to 57,364.70.

The Nifty Midcap 100 gained 146.45 points (0.25%) to trade at 59,887.65, while the Nifty Smallcap 100 added 52.50 points (0.28%) to reach 19,127.60, indicating broader market participation.

Devarsh Vakil, Head of Prime Research at HDFC Securities, noted that the Nifty remains above its short-term support, the 5-day EMA.

“The index has partially filled the gap of 25,640–25,740 formed in October 2024. A close above 25,740 could signal a continuation of the rally towards 26,000,” he said.

Among the Sensex constituents, Asian Paints, BEL, Bharti Airtel, HDFC Bank, PowerGrid, ITC, HCL Tech, Tata Motors, and Hindustan Unilever were the leading gainers.

On the other hand, Axis Bank, Trent, Tata Steel, Sun Pharma, Tech Mahindra, Maruti Suzuki, and Eternal witnessed losses in early trade.

Institutional activity & global markets

Despite high valuations, experts believe that strong domestic macros and a weak dollar (index at 96.81) are likely to prevent aggressive selling by Foreign Institutional Investors (FIIs).

FIIs were net sellers on June 30, offloading equities worth ₹831.50 crore, while Domestic Institutional Investors (DIIs) were net buyers with purchases worth ₹3,497.44 crore.

Asian markets showed mixed trends, with indices in China, Bangkok, Seoul, and Jakarta trading in the green, whereas Japan was the only major market in the red.

US markets closed higher in the previous session, with the Dow Jones gaining 275.50 points to 44,094.77.

The S&P 500 rose 31.87 points to 6,204.94, while the Nasdaq climbed 96.27 points to end at 20,369.73, providing strong overnight cues for Indian markets.

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