The domestic benchmark indices opened higher on Tuesday amid positive global cues, with buying interest observed in the realty and media sectors during early trade.
At around 9:27 am, the Sensex was trading 448.91 points or 0.61% higher at 74,618.86, while the Nifty gained 140.15 points or 0.62% to trade at 22,648.90.
The Nifty Bank index was up 407.25 points or 0.84% at 48,761.40. The Nifty Midcap 100 index climbed 333.05 points or 0.69% to 48,794.85, while the Nifty Smallcap 100 index rose 142.55 points or 0.95% to 15,110.95.
According to market analysts, after the positive opening, Nifty may find support at 22,450, followed by 22,350 and 22,300 levels. On the upside, 22,700 is seen as immediate resistance, followed by 22,750 and 22,800.
“Despite the positive market performance, a cautious sentiment prevailed due to escalating trade war tensions following new tariffs imposed by US President Donald Trump. This geopolitical uncertainty tempered overall market optimism,” said Vikram Kasat, Head of Advisory at PL Capital – Prabhudas Lilladher.
Top Gainers and Losers
In the Sensex pack, ICICI Bank, M&M, Axis Bank, Tata Steel, Tata Motors, Bajaj Finserv, Hindustan Unilever Limited, and Zomato were among the top gainers. Meanwhile, HCL Tech, Sun Pharma, TCS, and Tech Mahindra were trading in the red.
Global Markets
In the previous session, Dow Jones surged 0.85% to close at 41,841.63, while the S&P 500 gained 0.64% to settle at 5,675.12. The Nasdaq added 0.31% to end at 17,808.66.
In Asian markets, Jakarta was trading lower, whereas Japan, Seoul, China, and Hong Kong markets were in the green.
FIIs and DIIs Activity
Foreign Institutional Investors (FIIs) continued to remain net sellers in March so far, offloading equities worth Rs 4,488.45 crore on March 17. However, Domestic Institutional Investors (DIIs) offset this trend by purchasing equities worth Rs 6,000.60 crore on the same day.
— IANS
