MUMBAI — Indian equity benchmark indices opened on a firm note on Tuesday morning, building on the previous session’s strong gains as easing global crude oil prices and sustained buying in major technology stocks bolstered investor sentiment across domestic trading desks.
In early opening deals, the 30-share BSE Sensex advanced 152.7 points, or nearly 0.20 per cent, to reach 76,988.48. Simultaneously, the broader 50-share NSE Nifty rose by 44.95 points to trade above the key psychological level at 24,040.90.
Key Drivers Behind the Rally
The positive bias in domestic equities was primarily driven by a visible retreat in international oil benchmarks. Brent crude, the global crude baseline, slipped 1.44 per cent to $87.09 per barrel during morning trade as diplomatic efforts in West Asia helped abate immediate supply disruption fears.
"Crude oil prices extended their decline as optimism over renewed talks with Iran eased concerns about potential supply disruptions," noted Ponmudi R, CEO of Enrich Money, commenting on the global macroeconomic environment influencing domestic equities.
Top Movers and Laggards
Information technology shares led the charge on the BSE Sensex chart. Major gainers in early trade included Tech Mahindra, Tata Consultancy Services (TCS), Infosys, HCL Tech, Hindustan Unilever, and Eternal.
On the flip side, select defense, power, and state-run banking counters faced minor profit-taking. Bharat Electronics Limited (BEL), NTPC, Power Grid, and State Bank of India (SBI) were among the prominent laggards during the initial trading hours.
Institutional Activity and Global Cues
Despite the positive momentum on domestic bourses, institutional data reflected continued capital outflows by overseas funds. Foreign Institutional Investors (FIIs) remained net sellers in the cash market, offloading equities worth ₹1,688.23 crore on Monday, according to official exchange statistics.
Global market cues presented a mixed backdrop. Asian markets traded under pressure on Tuesday, with South Korea’s KOSPI plunging sharply by over 9 per cent, while Japan’s Nikkei 225, China's Shanghai Composite, and Hong Kong’s Hang Seng index also registered notable losses. Overnight, Wall Street indices closed on a muted, mixed note.
Tuesday's early morning advance follows a strong rebound on Monday, where the BSE Sensex surged 776.01 points (1.02 per cent) to end at 76,835.78, while the Nifty gained 228.50 points (0.96 per cent) to settle at 23,995.95, snapping a five-day losing streak.
