Sensex, Nifty Open Nearly 1% Higher on IT Rally

Among individual Nifty 50 stocks, Tata Motors Passenger Vehicles (TMPV), NTPC, SBI, and Axis Bank emerged as the top losers for the session so far. However, the broader market remained resilient. The Nifty Smallcap 50 and Nifty Smallcap 100 indices rose 0.48 per cent and 0.46 per cent respectively. The Nifty 100 gained 0.46 per cent, while the Nifty 500 advanced 0.41 per cent, indicating widespread participation beyond large-cap stocks.

Market volatility eased slightly, with India VIX — the country’s fear gauge — falling 1.62 per cent to 12.09. This decline suggests investors are relatively comfortable with near-term risks.

Market experts maintained a cautiously optimistic stance for the near term. They noted that sustained strength above the 24,000 level on the Nifty keeps the broader trend positive. Immediate resistance is seen at 24,300, followed by 24,450. On the downside, 24,050 remains a crucial support level, and a decisive breach could open the door for a corrective move towards 23,900.

Analysts advised investors to keep a close watch on global technology developments. Renewed weakness in semiconductor stocks internationally could prompt profit booking in domestic IT names after their recent sharp rally. This balanced view reflects the interplay between strong domestic sectoral momentum and external uncertainties.

On the commodity front, international oil prices saw modest gains. Brent crude rose 0.77 per cent to $72.36 per barrel, while US West Texas Intermediate (WTI) crude increased 0.68 per cent but stayed below the $70 per barrel mark. These movements provide some context for energy-sensitive sectors in the Indian market.

Asian markets traded largely higher during the session, with the Nikkei, Hang Seng, and KOSPI posting gains of up to 3 per cent. However, Wall Street ended on a mixed note overnight. The Nasdaq declined 0.80 per cent amid selling pressure in technology shares, while the S&P 500 closed nearly flat.

This opening session comes at a time when Indian markets continue to navigate a complex global environment. Strong sectoral buying in IT and metals demonstrates underlying resilience and confidence in India’s growth story, even as participants remain alert to international cues and potential volatility triggers.

As trading progresses, all eyes will be on whether the early gains can sustain through the day and how global technology sentiment influences domestic IT heavyweights. The coming hours will offer more clarity on whether this positive start translates into a broader market rally or remains limited to select sectors. Investors are expected to monitor key support and resistance levels closely while balancing optimism with prudent risk management.