Business

Sensex, Nifty Open Higher Amid Positive Global Cues

At 9:26 am, Sensex rose by 155.81 points or 0.19% to reach 80,893.32, while Nifty climbed 60 points or 0.25% to touch 24,602.80.

Mumbai: Indian frontline indices opened in the green on Wednesday following positive cues from global markets.

Market Opening Snapshot

At 9:26 am, Sensex rose by 155.81 points or 0.19% to reach 80,893.32, while Nifty climbed 60 points or 0.25% to touch 24,602.80.

Midcaps and Smallcaps Gain

Buying activity was notable in midcaps and smallcaps:

  • Nifty Midcap 100: Up by 309.30 points or 0.54% at 57,826.40
  • Nifty Smallcap 100: Up by 88.40 points or 0.49% at 18,210.75

Top Gainers and Losers

Top Gainers in the Sensex pack:

  • Bharti Airtel
  • Eternal (Zomato)
  • Tata Motors
  • M&M
  • IndusInd Bank
  • Maruti Suzuki
  • Tech Mahindra
  • Bajaj Finance
  • ITC
  • HUL
  • Infosys

Top Losers:

  • TCS
  • Ultratech Cement
  • ICICI Bank
  • Titan
  • Sun Pharma

Technical Outlook

“After the initial flat opening, Nifty may find support at 24,500, followed by 24,400 and 24,300. On the upside, 24,800 is expected to act as immediate resistance, followed by 24,900 and **25,000,” said Mandar Bhojane, Equity Research Analyst at Choice Broking.

Global Market Sentiment

Most Asian markets traded in the green with Tokyo, Shanghai, Hong Kong, Seoul, and Jakarta contributing positively.
Meanwhile, US markets also closed in the green on Tuesday.

Vikram Kasat of PL Capital commented, “Positive vibes – For the first time since February, Nasdaq is back in positive territory for the year as a broader market rally continues.”

Institutional Activity

  • FIIs (Foreign Institutional Investors): Sold equities worth Rs 2,853.83 crore on June 3
  • DIIs (Domestic Institutional Investors): Continued buying spree for 11th consecutive session, investing Rs 5,907.97 crore

Inflation, RBI Policy & Sector Outlook

Analysts suggest that benign CPI inflation provides room for at least two more rate cuts by RBI in 2025. While this may slightly pressure bank margins, large private sector banks are expected to deliver 12–15% returns over the next year.

Retail Investor Confidence

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said:
“Strong fundamental factors include India’s robust macros and steady mutual fund inflows, especially SIPs, which reflect the maturity of Indian retail investors.”

Back to top button