Sensex and Nifty edge higher in early trade, tracking positive investor sentiment

Indian equity markets opened positively today, with both benchmark indices higher by late morning. The BSE Sensex gained 346 points, or 0.43%, to 81,553, while the NSE Nifty 50 increased 96 points, or 0.39%, to 24,990 as of 11:50 am IST.

According to analysts, gains were driven by buying in large-cap stocks, with the indices staying near their intraday highs. Market sentiment remains positive as investors monitor global cues and wait for key domestic triggers.

The Indian market opened slightly higher today, supported by optimism regarding global rate-cut expectations and the RBI’s growth-positive policy stance. However, gains were limited near key resistance levels.

Ponmudi R, CEO of Enrich Money, said, "The Nifty 50 opened near its resistance zone and once again struggled to cross the psychological 25,000 mark, which continues to see heavy Call OI buildup. On the downside, the 24,900–24,800 zone remains a strong support band, with fresh Put additions keeping the index largely range-bound for now. A sustained move above 25,000 could extend momentum toward 25,150–25,350, while a slip below 24,750 may trigger short-term profit booking."

"Sectorally, banks and metals are in focus, aided by the RBI’s lending push and firm global commodity trends. In contrast, IT stocks continue to remain under pressure amid rupee weakness and persistent global trade uncertainty," added Ponmudi R.

The Bank Nifty opened with a gap-up and is testing its key double-top resistance zone. A sustained close above 55,820 could lead to 56,000–56,300, while failing to stay above 55,500–55,300 may trigger mild profit-taking. The overall outlook remains positive for financials, supported by better credit growth and steady bond yields.

Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, "Technically, on daily charts, it has formed a promising reversal pattern, and on weekly charts, it formed a small bullish candle, which is largely positive. We believe that 24,800-24,600/80800-80200 will act as key support zones in the near future. Above this range, the pullback formation is likely to continue on the higher side, potentially moving up to the 20-day SMA (Simple Moving Average) or 25,000/81400. Further upside may also continue, which could lift the market up to 150/81900."

"On the flip side, below 24,600/80200, sentiment could turn negative. Traders may prefer to exit long positions if the index falls below this level," added Chouhan.