Mumbai: The domestic benchmark indices opened higher on Tuesday amid positive global cues, with strong buying seen in the IT sector during early trade.
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At around 9:27 AM, Sensex was trading 112.50 points or 0.14% up at 78,096.88, while Nifty added 12.10 points or 0.05% at 23,670.45.
Nifty’s Bullish Momentum
Experts suggest that Nifty has demonstrated a V-shaped recovery, with bulls gaining strength and pushing the index close to its previous peak of 23,800.
“With further targets of 24,200 and 24,700 levels expected, the overall bias and sentiment remain positive. The 50EMA zone at 23,000 is a major support level that needs to be sustained,” said Vaishali Parekh, Vice President-Technical Research, PL Capital.
Bank Nifty Strengthens Further
Bank Nifty has shown a series of strong bullish candle formations on the daily chart, decisively surpassing the important 200-period MA at 51,000. This signals further upward momentum in the coming days.
At the time of reporting, Nifty Bank was up 147.19 points or 0.28% at 51,852.05.
Also Read: Stock Markets Rally for 6th Consecutive Day: Sensex Soars Over 1,000 Points
Midcap & Smallcap Performance
- Nifty Midcap 100: Trading at 52,779.20, up 255.15 points or 0.49%.
- Nifty Smallcap 100: Trading at 16,444.55, climbing 80.85 points or 0.49%.
Top Gainers & Losers
Top Gainers (Sensex Pack):
- UltraTech Cement
- HCL Tech
- Infosys
- Axis Bank
- L&T
- Tata Motors
Top Losers (Sensex Pack):
- PowerGrid
- Tata Steel
- Bajaj Finance
- ICICI Bank
Global Market Performance
- Dow Jones: Gained 1.42% to close at 42,583.32.
- S&P 500: Climbed 1.76% to 5,767.57.
- Nasdaq: Added 2.27% to close at 18,188.59.
- Asian Markets: Japan traded in green, while Seoul was in red.
Institutional Investments
- Foreign Institutional Investors (FIIs): Bought equities worth ₹3,055.76 crore on March 24.
- Domestic Institutional Investors (DIIs): Bought equities worth ₹98.54 crore on the same day.