India’s benchmark indices opened higher on Tuesday, driven by buying in the realty sector and positive momentum from the previous two sessions.
The Sensex climbed 94.14 points, or 0.12%, to reach 80,203.9, while the Nifty advanced 31.20 points, or 0.13%, to 24,253.10 as of 9:53 AM.
However, market analysts cautioned that the indices may not see sustained gains due to a subdued earnings season, which has tempered investor enthusiasm. The Nifty’s recent performance has raised key support levels, with a drop below 23,956 likely to trigger renewed bearish sentiment.
On the global front, U.S. President-elect Donald Trump’s reported selection of Scott Bessent as Treasury Secretary was viewed positively by market experts, given Bessent’s reputation as a fiscal conservative. This could help lower U.S. bond yields, potentially benefiting emerging markets, including India.
Market breadth remained favorable, with 1,572 stocks advancing and 694 declining.
Among sectoral indices, Nifty Bank, midcap, and smallcap registered modest gains. Top performers on the Sensex included Infosys, Tata Steel, and ICICI Bank, while UltraTech Cement and Hindustan Unilever saw declines.
In broader Asian markets, Jakarta, Seoul, and Tokyo declined, while Hong Kong, Shanghai, and Bangkok traded higher.
