Sensex, Nifty open higher on Wednesday

Indian equity benchmarks opened higher on Wednesday, supported by a bullish trend in global markets. The upward movement was largely driven by the continued gains in US indices, which extended their rally for the second consecutive session, boosting investor sentiment across international markets. At the opening of the trading session today, the BSE Sensex was in green, up 29.56 points or 0.04 percent at 75,330.82, and the Nifty50 at 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 TCS, HCL Technologies, Tech Mahindra, Cipla, and Trent were the major losers. On Tuesday, both indices experienced a strong rally, providing confidence to investors.

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  According to market experts, investor sentiments in the Indian markets appear encouraging as major global markets have witnessed positive trading amid apprehensions about US trade tariffs and other global uncertainties. Market analysts highlighted factors such as fiscal spending momentum, easing financial conditions, and an improving economic and corporate earnings outlook as supportive elements for the markets.

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Sensex gains driven by global trends

In India, reasonable valuations, fiscal spending momentum, easing financial conditions by concerted actions of the RBI, and improving economic and corporate earnings outlook, along with Foreign Portfolio Investment inflows, are a strong boost to the stock market,” said Ajay Bagga, banking and market expert. Bagga mentioned that US Federal Reserve concerns could lead to some profit-taking later in the trading day. He added that Indian markets must sustain themselves above key levels for multiple sessions before this recovery becomes robustly anchored.

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“On the Nifty front, Open Interest data highlights strong resistance at the 23,000 and 23,400 levels, while support is seen at 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,” said Varun Aggarwal, MD of Profit Idea. 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 Nifty 50 gained 325.55 points, or 1.45 percent, to settle at 22,834.30. Image Credits: Photo by Isaac Smith on Unsplash