Markets Open Higher for Fifth Straight Session; Investors Await US-China Talks Outcome
Mumbai :- Indian equity benchmarks extended their winning streak for the fifth consecutive session on Tuesday, but early gains were pared amid cautious investor sentiment ahead of key US-China talks.
At 9:17 a.m., the BSE Sensex was up 28.49 points or 0.03% at 82,473.70, while the NSE Nifty rose 21.15 points or 0.08% to 25,124.35.
Key Highlights:
Sectoral Performance:
Technology, metal, and media stocks led the gains. Banking counters saw mild selling pressure due to profit booking.
Broader Market Strength:
Midcap and smallcap indices outperformed, rising up to 0.5%, reflecting strong broader market participation.
Technical View:
Akshay Chinchalkar of Axis Securities noted continued bullish momentum following Friday’s breakout. “The 25,200 level is a key upside hurdle, while 24,800 is a critical support zone,” he said. A positive US-China outcome could act as the next trigger.
Global Cues:
Wall Street ended marginally higher on Monday, buoyed by Amazon and Alphabet, while Asian markets traded in the green on optimism over US-China developments.
Institutional Activity:
FIIs were net buyers of equities worth ₹1,992 crore on Monday.
DIIs continued their buying spree for the 15th consecutive session, adding ₹3,503 crore worth of stocks.
Investor Sentiment:
Vikram Kasat of PL Capital cautioned that while de-escalation between the US and China is positive, a full resolution may take time. “Valuations are stretched, and selective profit booking could help navigate potential volatility,” he said.
