The benchmark Indian stock indices opened higher on Wednesday, reversing their recent downward trend, buoyed by positive global cues, particularly optimism around US-China trade talks.
At 9:32 am, the S&P BSE Sensex was up 89.35 points at 80,826.86, while the NSE Nifty50 gained 29.35 points to 24,606.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, attributed this resilience to strong fundamentals—India’s robust macroeconomic conditions and steady, growing mutual fund inflows, especially from systematic investment plans (SIPs), signaling maturation among retail investors.
He noted that the Nifty is likely to trade within the 24,000-25,000 range in the near term, with a medium-term breakout above 25,000 more probable than a breakdown below 24,000, barring any unexpected developments.
Among individual stocks, Bharti Airtel led early gainers with a 1.28% rise, followed by Tata Motors (+1.19%), IndusInd Bank (+0.84%), Mahindra & Mahindra (+0.76%), and Eterna Limited (+0.63%).
On the downside, Titan Company fell 0.77%, Tata Consultancy Services declined 0.74%, UltraTech Cement dropped 0.69%, ICICI Bank slipped 0.54%, and Adani Ports lost 0.33%.
Sector-wise, Nifty Realty stood out with a strong 1.20% gain, supported by Nifty Media (+0.48%), Nifty Auto (+0.41%), and Nifty IT (+0.18%).
Conversely, Nifty Metal (-0.51%), Nifty Oil & Gas (-0.46%), and Nifty Consumer Durables (-0.43%) were among the weakest sectors. Other laggards included Nifty Private Bank (-0.28%), Nifty Financial Services (-0.24%), Nifty Healthcare (-0.14%), Nifty FMCG (-0.09%), and Nifty Pharma (-0.07%).
The India VIX, a measure of market volatility, eased by 3.38%, reflecting reduced investor anxiety in early trade.
