Markets Open Flat with Upward Bias on Positive Global Cues

New Delhi : The domestic equity benchmarks began Tuesday’s session with marginal gains, supported by positive cues from select global markets and early buying interest in auto, public sector banks, and financial services sectors.

At the opening bell, the BSE Sensex rose by 135 points to trade at 79,543, while the NSE Nifty edged up by 38 points, reaching 24,163. The early uptick came amid cautious optimism in global equities and ahead of earnings from key corporates later this week.

Among sectoral indices, Nifty Auto, Nifty PSU Bank, and Nifty Financial Services showed notable strength, indicating investor confidence in the domestic growth outlook. Stocks like Mahindra & Mahindra, SBI, and HDFC Bank were among the top contributors to the early market momentum.

In contrast, IT and pharma stocks remained largely flat, with some mild profit booking observed after recent rallies. The broader markets also opened in the green, with the Nifty Midcap 100 and Smallcap 100 indices showing marginal gains, signaling broad-based participation from retail investors.

In Asian markets, sentiments were mixed. Japan’s Nikkei, Hong Kong’s Hang Seng, and Thailand’s SET index were trading in the red, reflecting investor concerns over global inflationary pressures and potential monetary policy actions. Meanwhile, markets in Jakarta, Seoul, and mainland China traded in the green, buoyed by expectations of fiscal support measures from respective governments.

Back home, the market also appeared to take cues from improved domestic macro indicators, including easing retail inflation, a healthy monsoon spread in July, and sustained FPI inflows. According to analysts, investors are also tracking the movement of crude oil prices and US bond yields closely for further directional cues.

Market participants are now eyeing major earnings from companies across the FMCG, IT, and banking sectors, which could influence the next leg of movement. Additionally, commentary from global central bankers, including the upcoming US Fed meeting, remains on investors’ radar.