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Sensex, Nifty Open Higher Amid Mixed Global Cues and Trade Hopes

Indian stock markets started Tuesday's session on a positive note despite mixed global cues. The Sensex gained 98 points to reach 84,877 while the Nifty advanced 26 points, testing the crucial 26,000 level. Market analysts noted the Nifty maintained a sideways-to-bullish bias above its key support zone of 25,700-25,750. Investors are closely watching developments in US-China trade talks and domestic corporate earnings for further market direction.

Key Points: Sensex Nifty Gain as Markets Watch US China Trade Earnings

  • Sensex climbed 98 points to 84,877 while Nifty gained 26 points
  • Nifty held firm above crucial 25,700-25,750 support zone
  • PSU banks led sectoral gains with 1.2% rise in Nifty PSU Bank index
  • Investors tracking US-China trade talks and domestic Q2 earnings for direction
2 min read

Sensex, Nifty open higher amid mixed global cues

Indian stock markets opened higher with Sensex gaining 98 points and Nifty testing 26,000 mark amid global trade optimism and domestic earnings support.

Sensex, Nifty open higher amid mixed global cues
"A decisive move above 26,000 could accelerate the rally toward 26,100–26,200 in the near term - Market Analysts"

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.

- IANS

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Reader Comments

P
Priya S
The small cap index showing strength is what I like to see. That's where real wealth creation happens for common investors. My SIPs in small cap funds are finally paying off! 💪
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Sarah B
As an NRI investor, I'm concerned about the high valuations mentioned. FIIs might pull out if markets rally too fast. Need to be cautious with fresh investments right now.
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Arjun K
Tata Steel and SBI performing well is great news! These are solid blue-chip stocks that form the backbone of my portfolio. Hope the US-China trade talks bring more positive cues. 🤞
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Michael C
While the opening is positive, I wish the article had more analysis on why ICICI Bank and Bajaj Finance are underperforming. These are major stocks that affect overall market sentiment significantly.
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Nisha Z
The technical levels mentioned are quite helpful for day traders. 26,000 resistance on Nifty is the key level to watch. If we break above that, we could see a nice rally! 🚀
K
Karthik V
Auto and metal sectors gaining is a good sign for economic recovery. As someone from manufacturing background, this indicates improving industrial demand. Hope this trend continues!

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