Stock Market Alert: Nifty Above 25,100; Sensex Up 111 Pts; Broad Market Shines; Will Market Sustain Momentum?

The Indian stock market opened on a muted note as investors continued to adopt a wait-and-watch approach amid lingering uncertainty over U.S. tariffs. The Nifty 50 rose 60 points to open at 25,143, while the Sensex advanced 111.41 points to 82,364.90. However, positive movement across sectoral and broader market indices signaled an underlying optimism among investors.

The broad market indices emerged stronger during the early minutes of Tuesday trading hours. Nearly all the broad market indices on Nifty were in green with Nifty Midcap 50 up more than 0.50 points. Nifty Smallcap 100 was trading 0.86% higher, Nifty Midcap was up around 0.68% during the early trading session.

Other than broadmarket indices all the sectoral indices were also in green indicating a positive sentiment prevailing across the market. Nifty IT stocks were also trading in green with Coforge, LTI Mindtree, Mphasis, Tech Mahindra, etc emerging as top sectoral gainers.

Top Gainers

SunPharma, Hero Motocorp, Gillete, RailTel, IndusInd Bank, Shriram Finance, BEL, Bharti Airtel, Jio Finance, etc emerged as the top Nifty gainers during the early trading session on Tuesday.

Whereas, HCL Tech, Eternal, Cipla, SBI Life, Tata Steel, ICICI Bank, Cipla, Axis Bank, etc were among the top laggards on Nifty 50.

Stock Market Recap

The Indian stock market extended its losses to a fourth session on Monday as it followed the Asian stock market sentiment. BSE Sensex closed at 82,253.46, down 247.01 points or 0.30 per cent, while the Nifty50 index ended at 25,082.30, down 67.55 points or 0.27 per cent.

According to experts, the Indian stock market is likely to witness a range bound move during the day. Whereas, gold prices surged on Tuesday amid apprehensions related to U.S. inflation data.

As the IT sector is recovering today, it remained one of the worst performing sectoral indices on Monday as it shed around 1%. Other than IT, Pharma, Consumer Durables, Media, Realty and PSU Banks remained on the gaining side.

The positive sentiment across the Indian stock market has come a day after the India's retail and wholesale inflation data indicated cooled to a record low. India's retail inflation dropped to 2.1% in June, the lowest level since January 2019, driven by a sharp decline in food prices, official data showed Monday.

Global Stock Market Today

The Indian stock market's positive opening has come after an overall strong movement witnessed in the US stock market on Monday. While S&P 500 ended 0.14% higher, Dow Jones Industrial Average gained around 0.20%, Nasdaq Composite was up 0.22%. Asian stock markets showcased mixed performance earlier on Tuesday. Nikkei 225 was down marginally by 0.02%, whereas Hang Seng Index was trading 0.18% higher as on 9:40 am.

Technical Outlook For Nifty

"Nifty is expected to open on a flattish note and likely to witness a range bound move during the day. On technical grounds, Nifty has an immediate support at 25000. If Nifty closes below that, further downside can be expected towards 24940-24870 mark. On the flip side 25140-25200 will act as strong resistance levels," noted Nirmal Bang in its report.

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