The Indian stock markets opened higher on Wednesday, supported by a bullish trend in global markets.
The upward movement was primarily driven by the continued gains in US indices, which extended their rally for the second consecutive session. At the opening of the trading session, BSE Sensex was up 29.56 points or 0.04 percent at 75,330.82, and the Nifty50 at the National Stock Exchange (NSE) was up 19.70 points or 0.09 percent at 22,854.00.
In today’s trading, stocks of 1,767 companies advanced while 523 shares declined and 117 stocks remained unchanged.
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At NSE, Tata Steel, JSW Steel, Bajaj Finserv, SBI, and Bharti Airtel were among the major gainers, while stocks of TCS, HCL Technologies, Tech Mahindra, Cipla, and Trent were the major losers. On Tuesday, both indices experienced a strong rally, providing confidence to the investors.
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According to market experts, investors’ sentiment in the Indian markets looks encouraging, as the major global markets have witnessed positive trading amid apprehensions about US trade tariffs and other global uncertainties.
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Indian markets buoyed by US gains
Ajay Bagga, a banking and market expert, said, “In India, reasonable valuations, fiscal spending momentum, easing financial conditions by the concerted actions of the RBI, and improving economic and corporate earnings outlook combined with FPI inflows are a strong boost to the stock market.”
Bagga added that US Federal Reserve concerns could lead to some profit-taking later in the trading day.
He also noted that Indian markets must sustain themselves above key levels for multiple sessions before this recovery becomes robustly anchored. Varun Aggarwal, MD of Profit Idea, said, “On the Nifty front, Open Interest data highlights strong resistance at the 23,000 and 23,400 levels, while support is 22,300. The Nifty formed a bullish candle, breaking through the critical 22,700-22,800 resistance zone.
The short-term trend remains positive, with expectations of a move toward 23,100-23,200. Immediate support is at 22,700.”
On Tuesday, the Sensex surged by 1,131.31 points, or 1.53 percent, closing at 75,301.26, marking a one-month high. The Nifty50 gained 325.55 points, or 1.45 percent, to settle at 22,834.30.
