Indian Stock Market Opens Higher; Nifty Crosses 25,500 on Strong Global Cues
The Indian stock market opened higher on Tuesday, supported by strong global cues and renewed investor interest in auto and IT stocks. Both benchmark indices — Sensex and Nifty — saw gains in early trading.
Mumbai: The Indian stock market opened higher on Tuesday, supported by strong global cues and renewed investor interest in auto and IT stocks. Both benchmark indices — Sensex and Nifty — saw gains in early trading.
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Nifty Surges Above 25,500, Sensex Edges Higher
As of 9:26 AM, the BSE Sensex was up 188.66 points or 0.23% at 83,795.12, while the NSE Nifty 50 rose 54.80 points or 0.21% to 25,571.85. Analysts attribute the rally to positive momentum in global markets, particularly the US, which is setting new record highs.
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“Global equity sentiment remains upbeat, and Middle East tensions are no longer a significant threat to economic stability,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sectoral Gains: Auto and IT Lead the Rally
The rally was led by automobile, IT, and FMCG stocks. Among the top Sensex gainers were:
- Asian Paints
- BEL
- Bharti Airtel
- HDFC Bank
- HCL Tech
- Tata Motors
- Hindustan Unilever
Meanwhile, Axis Bank, Tata Steel, Sun Pharma, and Maruti Suzuki were among the top laggards.
Bank Nifty, Midcap & Smallcap Also in Green
- Nifty Bank was trading at 57,364.70, up 51.95 points or 0.09%.
- Nifty Midcap 100 rose by 146.45 points or 0.25% to reach 59,887.65.
- Nifty Smallcap 100 climbed 52.50 points or 0.28% to 19,127.60.
Technical Outlook: Nifty Could Hit 26,000
According to Devarsh Vakil, Head of Prime Research at HDFC Securities, the Nifty is holding above its 5-day exponential moving average (EMA).
“The index has partially filled the gap between 25,640–25,740 formed in October 2024. A close above 25,740 could extend the rally toward the 26,000 mark. Support lies at 25,400,” Vakil added.
Institutional Activity: DIIs Stay Bullish, FIIs Cautious
- FIIs (Foreign Institutional Investors) were net sellers, offloading equities worth ₹831.50 crore on June 30.
- DIIs (Domestic Institutional Investors) remained net buyers, purchasing ₹3,497.44 crore worth of shares.
Despite high valuations, experts believe strong macroeconomic fundamentals and a weak US dollar (Dollar Index at 96.81) may attract more foreign inflows into Indian equities.
Asian Markets Mostly Positive
Asian equities traded largely in the green:
- China, Bangkok, Seoul, and Jakarta saw gains.
- Japan was the only major market trading in red.
In the US, the Dow Jones closed at 44,094.77 (+0.63%), the S&P 500 ended at 6,204.94 (+0.52%), and the Nasdaq rose to 20,369.73 (+0.47%).
