Mumbai’s bustling stock exchanges kicked off Tuesday with a positive note, buoyed by mixed global cues on the second trading day of the week. The Sensex surged 144.25 points from its previous close of 84,065.75, opening at 84,210, while the Nifty climbed 55.35 points to 25,922.65 from 25,867.30.
By 9:22 AM, the 30-share BSE Sensex was up 137.67 points or 0.16% at 84,203.42. On the NSE, Nifty advanced 37.65 points or 0.15% to 25,904.95. Most Nifty sectoral indices traded in green, barring Nifty FMCG and Nifty IT.
Broader markets showed strength too, with Nifty Midcap up 0.21% and Nifty Smallcap gaining 0.49%. Sector-wise, Nifty Pharma led with a 0.46% rise, while Nifty IT and Nifty PSU Bank saw a 0.2% decline.
Top gainers in Sensex included Eternal, Titan, Axis Bank, Tata Steel, TCS, Sun Pharma, and Power Grid. Laggards were Bajaj Finance, Asian Paints, Indigo, HCL Tech, HDFC Bank, and SBI.
Akash Shah, Technical Research Analyst at Choice Broking, noted that benchmarks continued their recovery from the prior session, with Nifty50 closing above 25,850 and Sensex adding nearly 500 points. Technically, Nifty holds above key moving averages, strengthening above the 25,700-25,800 range.
The next resistance looms near 26,000, followed by 26,100. A decisive breakout above 26,000 could trigger short covering and sustain the uptrend. On the downside, 25,700 offers initial support, then 25,500.
Overall, market sentiment remains positive with range-bound trading likely, favoring bulls. Investors should eye banking, PSU, metals, and stocks with earnings or sector news. Caution is advised near the 26,000 resistance with strict risk management.