Indian stock markets opened higher on Tuesday, supported by positive global cues, though investors remained cautious due to sectoral pressures and global uncertainties.
The Sensex rose 281.43 points, or 0.35 percent, to 80,646.37, while the Nifty 50 gained 80.30 points, or 0.33 percent, to 24,715.20. Out of the total shares traded, 430 advanced, 256 declined, and 76 remained unchanged.
Among the Nifty 50 gainers were Titan Company, Asian Paints, Cipla, Hindalco, and Tata Consumer, while SBI Life Insurance, Tata Motors, SBI, Tech Mahindra, and Dr Reddy’s Labs were among the laggards.
Vinod Nair, Head of Research at Geojit Investments, noted that the market had ended Monday on a flat note, reflecting cautious investor sentiment ahead of a holiday-shortened week and ongoing FII selling. He added, “Uncertainty over the US-India trade deal and pressure on IT and pharma sectors are short-term concerns. Investors are awaiting the RBI policy outcome, which is expected to keep rates unchanged to manage rupee volatility. Supportive fiscal measures and a stronger demand outlook for H2FY26 may prompt an upward revision in FY26 GDP growth forecasts.”
Broader indices mirrored this cautious optimism, with the Nifty 100 up 0.26 percent, Nifty Smallcap 100 rising 0.20 percent, and Nifty Midcap 100 climbing 0.31 percent. Sectoral performance was mixed, as Nifty Auto advanced 0.21 percent, Nifty IT gained 0.33 percent, while Nifty Media slipped 0.60 percent. Analysts said most sectors were attempting to recover from oversold levels.
From a global perspective, Vikram Kasat, Head Advisory at PL Capital, said the US market eased concerns ahead of the October 1 federal government funding deadline. He added, “Payroll numbers may not be crucial long-term, but the market focuses on them as a weak labor market could lead the Fed to ease monetary policy.”
Kasat also noted that the Nifty has declined for seven consecutive sessions and may continue its downward trend unless a positive daily close is registered. He highlighted key resistance levels at the 20HMA (24,807) and 40HEMA (24,923), where selling pressure could re-emerge during a pullback.
-ANI