Stock Market Today: Sensex, Nifty Open Higher As Banking Stocks Lead Gains

Indian benchmark indices started Wednesday’s session on a positive footing, taking cues from strong performances in the US and Asian markets.

The BSE Sensex advanced by over 100 points to open at 77,192.76, while the NSE Nifty climbed 33.80 points to 24,085.85 during early trading.

Buying interest remained concentrated in banking and financial counters, making them the top-performing sectors at the opening bell.

The Nifty Financial Services Ex-Bank index led the gains with an increase of nearly one per cent, while Nifty Chemicals followed with a rise of 0.71 per cent.

The Nifty Private Bank index moved up 0.58 per cent, and Nifty PSU Bank added 0.53 per cent as investors continued to favour financial stocks.

Technology stocks struggled despite the broader market’s positive performance. Nifty IT emerged as the weakest sector, falling 1.38 per cent, while the Nifty MidSmall IT & Telecom index declined 0.43 per cent.

Heavyweights including Tata Consultancy Services (TCS), Infosys, Tech Mahindra, Wipro, HCL Technologies, Dr Reddy’s Laboratories, Hindalco Industries, and ONGC featured among the top losers on the Nifty.

Market Outlook

According to market experts, the Nifty is expected to trade within the 23,900-24,250 range in the absence of a fresh market trigger.

Analysts identified the 24,000 level as a key support zone, while resistance is likely around 24,250-24,300.

A sustained move above this level could encourage short covering and push the index higher.

Analysts also noted that the overall technical outlook remains cautiously optimistic, indicating a sideways-to-positive trend for the day.

Positive sentiment from overseas markets continued to underpin domestic equities.

Major Asian indices, including Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s KOSPI, traded in the green after Wall Street closed higher overnight.

At the same time, crude oil prices strengthened, with Brent crude rising above $85 per barrel and US West Texas Intermediate (WTI) advancing to $80.59 per barrel, reflecting renewed momentum in global commodity markets.

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