Sensex, Nifty Trade Higher In Early Deals On Global Cues

Indian equity benchmarks traded higher in early deals on Tuesday, tracking strong global cues and continued foreign institutional participation.

At 9:28 AM, the Sensex was up 182 points, or 0.22 per cent, at 84,247, while the Nifty gained 50 points, or 0.19 per cent, to trade at 25,917.

Broader markets moved largely in line with the benchmarks. The Nifty Midcap 100 advanced 0.20 per cent, while the Nifty Smallcap 100 outperformed with a gain of 0.58 per cent.

All sectoral indices were trading in positive territory.

Consumer durables led the gains, rising 0.85 per cent, followed by realty, up 0.55 per cent, and metal stocks, which added 0.53 per cent. ONGC featured among the top gainers in early trade.

Key Technical Levels to Watch

From a technical perspective, immediate support for the Nifty is seen in the 25,500–25,700 range, while resistance is placed at the 26,000–26,100 zone, according to market watchers.

Market sentiment remained buoyant amid improving prospects of foreign inflows, strength in US equities and optimism surrounding the interim India–US trade framework.

Asian markets showed mixed trends. Japan’s Nikkei surged 2.49 per cent, Hong Kong’s Hang Seng Index rose 0.6 per cent, and South Korea’s Kospi gained 0.14 per cent. Meanwhile, China’s Shanghai and Shenzhen indices slipped marginally by 0.02 per cent each.

US markets closed higher in the previous session, with the Nasdaq rising 0.9 per cent, the S&P 500 gaining 0.47 per cent, and the Dow Jones edging up 0.04 per cent.

On February 9, foreign institutional investors were net buyers of equities worth Rs 2,255 crore, while domestic institutional investors bought shares worth Rs 4 crore.

The positive momentum follows a strong rally on Monday, when the Sensex jumped 485 points, or 0.58 per cent, to close at 84,065, and the Nifty climbed 173 points, or 0.68 per cent, to end at 25,867.