Mumbai, Oct 28 Indian stock markets started Tuesday’s session on a positive note, even as most Asian markets traded flat.
Investors are closely tracking global developments around US trade deals and domestic Q2 FY26 earnings to gauge the market direction.
At the opening bell, the Sensex climbed 98 points, or 0.12 per cent, to 84,877. The Nifty also gained 26 points, or 0.10 per cent, to reach 25,992, testing the 26,000-mark.
“From a technical perspective, the Nifty continued to hold firm above its crucial support zone of 25,700–25,750, maintaining a sideways-to-bullish bias,” analysts stated.
“On the upside, immediate resistance is seen at 26,000–26,100, and a decisive move above 26,000 could accelerate the rally toward 26,100–26,200 in the near term,” they added.
Tata Steel, SBI, L&T, Bharti Airtel, Power Grid, HUL, Axis Bank, and Maruti Suzuki were among the top gainers on the Sensex, rising up to 0.7 per cent.
However, ICICI Bank, Bajaj Finance, Asian Paints, Bharat Electronics, Bajaj Finserv, and Sun Pharma were among the early losers.
In the broader market, the Nifty MidCap index added 0.08 per cent, while the Nifty SmallCap index advanced 0.36 per cent -- showing some strength in smaller stocks.
Among sectoral indices, PSU banks led the gains, with the Nifty PSU Bank index rising 1.2 per cent.
The Nifty Auto and Nifty Metal indices also traded higher, up around 0.15 per cent each.
Analysts said that investors remained cautious but optimistic, taking cues from corporate earnings and global trade updates.
“There are indications of a possible agreement between US and China on tariffs and if there is a breakthrough in the Trump-Xi meeting on Thursday, that will give another leg up to the markets globally where the leading indexes like S&P 500, Nikkei and Kospi are at record highs,” experts said.
“There is fundamental support for the Indian market from the leading indicators relating to GDP growth and corporate earnings,” they added.
The only concern is the relatively high valuations in India which might prompt the FIIs to again turn sellers if the market makes a smart rally, analysts mentioned.
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