Stock Market: Sensex rises 191 pts, Nifty above 25,600; BEL, M&M lead gainers

Domestic equity benchmarks Sensex and Nifty opened higher on Tuesday, tracking positive cues from global markets and renewed optimism over a potential trade breakthrough between India and the US.

At 9:16 am, the BSE Sensex was trading 127.88 points, or 0.15 per cent, higher at 83,663.23, after rising as much as 191 points in early trade. The NSE Nifty50 rose 27.75 points, or 0.11 per cent, to 25,602.10, after touching a day’s high of 25,637.60.

Among Sensex constituents, Bharat Electronics (BEL) led the gainers, advancing 1.04 per cent to Rs 421.05. Mahindra & Mahindra (M&M) added 0.83 per cent, while HCL Tech, TCS and Adani Ports gained 0.56 per cent, 0.50 per cent and 0.48 per cent, respectively.

Wall Street ended lower overnight, with all three major US indices closing in the green. The Dow Jones Industrial Average gained 0.81 per cent to 47,368.63, while the S&P 500 rose 1.54 per cent to 6,832.43. The Nasdaq Composite climbed 2.27 per cent to settle at 23,527.17.

Asian markets traded mixed on Tuesday. At last check, Japan’s Nikkei 225 was up 0.43 per cent to 51,131.28, while South Korea’s KOSPI rose 1.52 per cent to 4,135.30. Meanwhile, Hong Kong’s Hang Seng Index slipped 0.35 per cent to 26,556.44.

On Monday, the Sensex advanced 319.07 points, or 0.38 per cent, to close at 83,535.35, while the Nifty50 gained 82.05 points, or 0.32 per cent, to settle at 25,574.35.

Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Pvt Ltd, said Indian equity markets are expected to open on a flat to mildly positive note on Tuesday, in line with cues from the GIFT Nifty, which was trading around 25,725 — up about 28 points.

“Investor sentiment remains cautiously optimistic amid mixed global cues and the absence of strong domestic triggers. In the near term, traders will continue to track global market trends, crude oil price movements, and institutional fund flows to gauge overall direction,” Shinde said.

“The Nifty opened at 25,503 in the previous session and moved within a narrow upward channel throughout the day, touching an intraday high of 25,652 before witnessing mild profit booking toward the close. The index now faces immediate resistance at 25,700–25,750, while support remains at 25,450–25,500, which may continue to act as a potential accumulation zone for positional traders,” Shinde added.