Indian stock markets kicked off Tuesday on a positive note, with the Nifty IT index stealing the show by jumping 1.7% right in the early hours. Investors cheered as key benchmark indices like Sensex and Nifty climbed higher, signaling a strong start to the trading day in Mumbai.
By 9:23 am, the Sensex surged 355 points, or 0.44%, to reach 81,142. Meanwhile, the Nifty rose 99 points, or 0.40%, hitting 24,873. This upbeat mood in the Indian stock market came amid gains in the IT sector, which often drives broader market trends.
Broader market indices showed mixed signals, staying mostly flat. The Nifty Midcap 100 edged up just 0.05%, while the Nifty Smallcap 100 slipped a tiny 0.01%. But the real action was in the IT space, where heavyweights led the charge.
Infosys shares rocketed 3.35% after the company revealed plans to consider a share buyback alongside its upcoming quarterly results next month. Wipro wasn’t far behind, climbing 2.36%. Other big gainers in the Nifty pack included Tech Mahindra, TCS, and Bajaj Finserv. On the flip side, losers like Titan Company, Shriram Finance, ICICI Bank, Tata Consumer, and Tata Motors pulled back some steam.
Sector-wise, Nifty IT topped the charts as the biggest gainer. Nifty Pharma followed with a 0.47% rise, and Nifty Auto gained 0.21%. Several other sectoral indices saw small dips, keeping things balanced.
Market experts point to some consolidation and volatility in the Nifty index. They noted that it formed a small red candle with a long upper shadow on the daily chart. “Buying interest shows up at lower levels, but the 24,900–25,000 zone acts as a tough resistance. Support sits at 24,620, and until Nifty breaks above 25,000, we might see more sideways movement or slight weakness,” analysts shared.
Anand James, Chief Market Strategist at Geojit Investments Limited, added, “Upside momentum faded near 24,870, a key pivot point we flagged yesterday. The drop was sharp, but technical indicators still hint at potential upsides. We’ll watch for a close above 24,730-870 for clearer direction.”
Overnight, US stock markets closed in the green, boosting global sentiment. The Dow Jones Industrial Average rose 0.25%, Nasdaq gained 0.45%, and S&P 500 added 0.21%. US investors now eye two major inflation reports that could sway the Federal Reserve’s decisions at next week’s meeting.
In Asia, markets traded mixed during the morning session. China’s Shanghai index fell 0.35%, and Shenzhen dropped 1%. Japan’s Nikkei edged up 0.2%, Hong Kong’s Hang Seng climbed 0.82%, and South Korea’s Kospi rose 1.06%.
On the investment front, foreign institutional investors (FIIs/FPIs) sold Indian equities worth Rs 2,170 crore on Friday, turning net sellers. Domestic institutional investors (DIIs) countered this by buying shares worth Rs 3,014 crore, providing some stability to the Indian stock market.
