Mumbai: India’s benchmark equity indices opened on a positive note on Tuesday, supported by selective buying across key sectors despite mixed global market cues. Investors remained focused on the upcoming derivatives expiry and the start of the June quarter (Q1 FY27) earnings season.
The BSE Sensex opened at 77,005.51, gaining 277.14 points or 0.36 per cent, while the NSE Nifty50 began the session at 24,032.05, up 85.80 points or 0.35 per cent.
Among sectoral indices, Nifty Realty emerged as the top performer, advancing 0.54 per cent. Nifty Private Bank and Nifty Auto also posted gains of up to 0.45 per cent. Buying interest was witnessed in chemicals, PSU banks, oil and gas, consumer durables and healthcare stocks.
However, the technology sector remained under pressure, with Nifty IT declining 0.18 per cent. Nifty Metal slipped 0.13 per cent, while Nifty FMCG traded marginally lower.
Among individual stocks on the Nifty, Eicher Motors, Tata Consumer Products, Hindalco Industries, HDFC Life Insurance, Dr Reddy’s Laboratories, Max Healthcare, SBI Life Insurance, Hindustan Unilever, and Infosys were among the top laggards during early trade.
Market analysts said the absence of strong near-term domestic or global triggers is likely to keep benchmark indices trading within a narrow range. Investor attention is now shifting toward the June quarter earnings season, which is expected to provide fresh direction to the markets.
According to experts, technical indicators suggest that market momentum has started to moderate, indicating that the ongoing consolidation phase may continue in the near term.
“The market is currently consolidating within a defined range. Traders should watch for a decisive breakout above the 24,200 level or a fall below 23,800 on the Nifty to confirm the next directional trend. Until then, range-bound trading with stock-specific action is likely to dominate,” market experts said.
In the commodities market, international oil prices declined, offering some relief to investors. Brent crude fell 0.66 per cent to $73.42 per barrel, while US West Texas Intermediate (WTI) crude dropped nearly 1 per cent to trade around the $70-per-barrel mark.
Asian markets traded on a mixed note. Japan’s Nikkei rose more than 1 per cent, while South Korea’s KOSPI also gained over 1 per cent. In contrast, Hong Kong’s Hang Seng Index declined by more than 1 per cent.
Overnight, Wall Street ended on a strong note, with the S&P 500 advancing 1.18 per cent and the Nasdaq Composite surging nearly 2 per cent, providing positive cues for Indian equities.
Market participants are expected to closely monitor corporate earnings announcements and global economic developments for further direction in the coming sessions.
