Mumbai: The Indian equity indices opened in the green due to positive domestic cues like further softening of inflation, as Asian cues in the morning trade were largely positive.
At 9.24 am, Sensex was up 156 points or 0.19 per cent at 82,410 and Nifty was up 55 points or 25,136.
Buying was seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 310 points or 59,363 and Nifty smallcap 100 index was up 145 points or 0.77 per cent at 19,100.
“In the current environment of elevated volatility and mixed cues, traders are advised to maintain a cautious ‘buy-on-dips’ approach, especially when using leverage,” said Hardik Matalia from Choice Broking.
In the Sensex pack, Sun Pharma, BEL, Bharti Airtel, M&M, Tata Motors, Bajaj Finserv, Infosys, Maruti Suzuki, Tech Mahindra, Trent, SBI, TCS and Bajaj Finance were major gainers. HCL Tech, Eternal, Tata Steel, UltraTech Cement, HDFC Bank, ICICI Bank and Axis Bank were top losers.
In the Asian markets, Tokyo, Hong Kong and Jakarta were in the green, while Shanghai, Bangkok and Seoul were in the red. The US market closed in the green on Monday.
From a fund flow perspective, foreign institutional investors (FIIs) continued their selling spree for the second consecutive day on July 14, offloading equities worth Rs 1,614 crore. In contrast, domestic institutional investors (DIIs) extended their buying streak for the sixth day, purchasing equities worth Rs 1,787 crore.
“A significant macro trend is the decline of CPI inflation in June to 2.10 per cent. It appears that inflation will undershoot RBI’s projection of 3.7 per cent CPI inflation for FY26. This has raised rate cut hopes,” said analysts.
According to market experts, fresh long positions should only be considered if Nifty sustains above the 25,378 mark. While the broader sentiment remains cautiously bullish, it is important to monitor key technical levels and global developments closely.
(IANS)
