The Indian equity markets opened with modest gains on Wednesday, supported by continued foreign inflows and strong domestic earnings momentum.
As of 9:23 am, the Sensex was up 122 points, or 0.14 per cent, at 84,396, while the Nifty gained 50 points, or 0.19 per cent, to trade at 25,985.
The broader markets moved in line with the benchmark indices. The Nifty Midcap 100 rose 0.13 per cent, and the Nifty Smallcap 100 edged higher by 0.18 per cent.
All sectoral indices were trading in the green. The top gainers included Nifty Consumer Durables, up 0.79 per cent, followed by Auto (up 0.63 per cent) and Metals (up 0.41 per cent).
Market experts noted that immediate support for the Nifty is placed in the 25,700–25,800 zone, while resistance is seen around the 26,000 level.
Analysts said sustained optimism surrounding the interim India–US trade framework, coupled with strong corporate earnings, is providing near-term support to domestic equities.
However, with the Nifty approaching the key psychological resistance level of 26,000, traders may adopt a cautious approach at higher levels, they added.
In the Asia-Pacific region, markets traded mostly higher despite concerns related to artificial intelligence (AI) stocks and weak US economic data weighing on Wall Street overnight.
The US December retail sales report showed consumer spending rose less than the 0.4 per cent monthly gain expected by economists.
Among Asian markets, China’s Shanghai Composite gained 0.22 per cent, while Shenzhen slipped 0.07 per cent. Japan’s Nikkei surged 2.28 per cent, Hong Kong’s Hang Seng advanced 0.33 per cent, and South Korea’s Kospi rose 0.87 per cent.
US markets ended largely lower on Tuesday. The Nasdaq fell 0.59 per cent, the S&P 500 declined 0.33 per cent, while the Dow Jones Industrial Average edged up 0.1 per cent.
On February 10, foreign institutional investors (FIIs) were net buyers of equities worth Rs 69 crore, while domestic institutional investors (DIIs) purchased equities worth Rs 1,174 crore.
In the previous session, benchmark indices extended their recovery for the third consecutive day, led by gains in auto, metal, and select consumption and healthcare stocks.
(IANS)
