Mumbai: The Indian benchmark indices opened slightly higher on Tuesday, buoyed by positive global cues and strong buying interest in auto, PSU bank, and financial services sectors.
Table of Contents
Early Market Performance
At around 9:34 am, the Sensex was up by 134.87 points or 0.17%, trading at 79,543.37, while the Nifty added 37.65 points or 0.16% to reach 24,163.20.
- Nifty Bank rose 78.85 points or 0.14% to 55,383.35
- Nifty Midcap 100 gained 299.45 points or 0.55%, trading at 54,273.90
- Nifty Smallcap 100 climbed 78.10 points or 0.47% to 16,851.45
Key Technical Levels
Market experts highlight that the Nifty has returned to March’s high of 23,870, a critical resistance zone in the near term.
“If the Nifty index fails to break and sustain above 23,870, it may witness a correction or sideways consolidation. On the downside, the 20 HMA at 23,460 will be a key support level. A break above 23,870 could open up upside targets of 24,250 to 24,500,” said Vikram Kasat, Head – Advisory, PL Capital.
Also Read: World’s Largest Petrol Pump? Buc-ee’s in Texas Is Changing the Way We Travel
Top Gainers and Losers
In the Sensex pack:
- Top Gainers: Eternal, Tata Steel, Kotak Mahindra Bank, HDFC Bank, Bajaj Finance, Hindustan Unilever Limited
- Top Losers: IndusInd Bank, Infosys, Power Grid, Asian Paints, HCL Tech
Global Market Snapshot
In the previous US session, major indices ended sharply lower:
- Dow Jones dropped 2.48% to 38,170.41
- S&P 500 declined 2.36% to 5,158.20
- Nasdaq fell 2.55% to 15,870.90
In Asia, the markets were mixed:
- In Red: Japan, Hong Kong, Bangkok
- In Green: Jakarta, Seoul, China
Institutional Activity
Despite global weakness, Foreign Institutional Investors (FIIs) continued to show confidence, buying equities worth ₹1,970.17 crore on April 21. Domestic Institutional Investors (DIIs) also added ₹246.59 crore worth of equities.
“Despite global markets trading on a negative note, continued buying by FIIs added confidence to the domestic outlook,” said Hardik Matalia, Derivative Analyst at Choice Broking.