Nifty and Sensex open higher amid positive global cues
The stock market opened on a positive note for the second consecutive day, reflecting optimism in early trading. On Tuesday, the benchmark indices saw the Nifty opening at 25,196.05, up 68 points or 0.27%, and the Sensex at 82,198.68, up 226 points or 0.28%.
On the National Stock Exchange, most sectoral stocks were trading higher, except for Auto and Metal. Top performers in the initial trading session included Bharat Petroleum Corporation, Bajaj Finserv, Bharti Airtel, Infosys, and ICICI Bank. In contrast, ONGC, Tata Steel, Hindalco, M&M, and JSW were among the early losers.
“Traders will react to the results of heavyweights like Reliance and HCL Tech in early Tuesday trades. A recovery in major banking stocks, along with continued strength in IT, could drive further gains,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.
“Having oscillated within a broader range of 25,200 to 24,700 over the past few sessions, the Nifty now approaches the upper limit at 25,200. A sustained move above this level could indicate a breakout, with the next resistance levels at 25,500 and 25,600. Current support is seen at 24,900, with a positive crossover in hourly momentum indicators suggesting continued upward momentum,” added Varun Aggarwal, MD, Profit Idea.
Meanwhile, Asian markets were mixed on Tuesday. The Shanghai Composite was down by more than 27 points at the time of this report, while Japan’s Nikkei 225 gained over 1.5%. In the U.S., the market closed at a record high, with a 1% rise driven by technology stocks. Nvidia’s stock climbed by more than 2%, influencing U.S. market performance, while major tech firms like Apple, Microsoft, and Amazon also saw gains of nearly 2%.
