India’s benchmark stock indices opened higher on Tuesday, building on recent gains amid positive global and domestic sentiment. Early trading saw strength in IT and media stocks, but momentum faded quickly as profit booking emerged. By 9:25 am, the S&P BSE Sensex was up 68.34 points at 82,513.55, while the NSE Nifty50 rose 19.40 points to 25,128.05.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted the absence of short-term catalysts to push the Nifty beyond its current upper range. “Some profit booking pulling the market slightly down is likely,” he stated. “But ample market liquidity should cushion any dips, supporting consolidation. We expect the Nifty to trade between 24,500 and 25,500 in the near term.”
Early gainers included IndusInd Bank (up 1.70%), UltraTech Cement (1.48%), Tech Mahindra (1.24%), HCL Technologies (0.96%), and Tata Motors (0.93%). Conversely, ICICI Bank led decliners with a 0.98% drop, followed by Bajaj Finserv (0.89%), Asian Paints (0.87%), Eicher Motors (0.74%), and Titan (0.54%).
Broader markets showed mixed trends: the Nifty Midcap100 gained 0.16% while the Nifty Smallcap rose 0.27%. The volatility index, India VIX, eased 1.53%. Sectorally, Nifty Media surged 1.71%, followed by Nifty IT (1.24%) and Nifty Metal (0.75%). Losses hit Nifty Financial Services (-0.44%), Nifty PSU Bank (-0.24%), and Nifty Private Bank (-0.14%).
Dr. Vijayakumar added that global investors are closely monitoring U.S.-China trade talks: “While outcomes appear optimistic, swift resolutions seem unlikely. With stretched valuations after recent rallies, strategic profit booking could hedge against unexpected developments.”