Sensex Opens Higher, Nifty Slips Amid Mixed Cues

Analysts said markets are likely to remain range-bound in the near term, with stock-specific action dominating as investors assess global developments and await fresh macroeconomic triggers. Global markets have stayed cautiously positive as participants continue to evaluate the latest US corporate earnings and the interest-rate outlook following last week’s Federal Reserve policy decision.

With no major adverse global triggers overnight, investors are expected to track international cues and domestic developments closely.

From a technical perspective, analysts see the 24,450–24,500 zone as immediate support for the Nifty, while 24,750–24,800 remains a key resistance band. A sustained move above the resistance zone could extend the ongoing rally, while any decline towards support levels is expected to attract buying interest and keep the broader trend constructive.

“The overall market setup continues to remain constructive, backed by strong institutional participation, favourable global cues and improving technical momentum,” analysts noted.

On the commodities front, Brent crude, the international oil benchmark, rose more than 1 per cent to near $85 a barrel. US West Texas Intermediate (WTI) crude gained 1.17 per cent to $81.28 a barrel.

Asian markets traded mixed. Japan’s Nikkei declined 0.6 per cent, Hong Kong’s Hang Seng was marginally lower, and South Korea’s Kospi fell more than 1 per cent. China’s Shanghai Composite and Indonesia’s Jakarta Composite, however, traded in positive territory.

Overnight, Wall Street ended higher, with the S&P 500 gaining 1.48 per cent and the tech-heavy Nasdaq advancing more than 2 per cent.

The mixed opening reflected a combination of domestic technical adjustments following the previous session’s CAS-related late rise and a cautious reading of global cues. Market participants will watch whether the Nifty can reclaim and sustain levels above the immediate resistance zone for the positive bias to strengthen.