Benchmark equity indices, BSE Sensex and NSE Nifty50, opened higher on Tuesday, propelled by strong global cues that have positively influenced investor sentiment. The BSE Sensex surged by 297.86 points or 0.37% to open at 80,722.54, while the Nifty50 rose by 76.25 points or 0.31% to reach 24,648.90.
The broader markets also reflected this bullish trend, with the Nifty SmallCap index climbing 0.51% and the MidCap index trading 0.48% higher. Sectorally, Nifty Metal and Oil Marketing Companies (OMCs) emerged as the top gainers, rising by up to 0.70%.
Among individual stocks, BPCL, TCS, Hero MotoCorp, IndusInd Bank, and UltraTech Cement were the top gainers on the NSE. In contrast, ONGC, Bharti Airtel, Cipla, HCL Tech, and ITC lagged behind.
This upward momentum in the Indian markets was supported by positive global cues, particularly from Asian markets. Stocks in Japan, South Korea, and Australia rose, buoyed by a strong performance on Wall Street, where the S&P 500 extended its winning streak to eight days, the longest of the year. Investors are optimistic as expectations grow that the Federal Reserve may soon signal a readiness to cut interest rates.
The tech-focused Nasdaq led gains across major US stock indexes, driven by strong performances from companies like Nvidia, Microsoft, and Alphabet. As the markets continue to react to these global trends, analysts remain cautiously optimistic about the outlook for Indian equities in the coming days.
