Mumbai, February 26: Indian equity markets opened on a positive note on Thursday, supported by a rebound in information technology stocks following overnight gains on Wall Street.
At 9:25 am, the BSE Sensex advanced 58 points, or 0.07 percent, to 82,334. The NSE Nifty 50 rose 15 points, or 0.06 percent, to 25,498.
Broader Markets Show Divergence
The broader market indices reflected a mixed trend in early trade. The Nifty Midcap 100 gained 0.22 percent, while the Nifty Smallcap 100 slipped 0.08 percent, indicating selective buying across segments.Sectoral Indices Trade Mixed
Sectoral performance remained varied. The Nifty PSU Bank index emerged as the top gainer, rising 1.13 percent, followed by the Nifty IT index, which climbed 1.01 percent.On the downside, the Nifty FMCG index declined 0.27 percent, while the Nifty Realty index fell 0.46 percent.
Market participants noted that positive momentum in US and European markets, easing volatility, and continued domestic institutional buying are likely to lend near-term stability to equities. However, the Nifty is expected to remain within a broader consolidation range.
Immediate support for the Nifty is seen at 25,250, with resistance placed at 25,650. For the Bank Nifty, support is indicated around 60,700 to 60,800, while resistance is positioned near 61,300 to 61,400.
Global Markets Provide Cues
Asian markets traded mixed. China’s Shanghai Composite declined 0.08 percent, while the Shenzhen index rose 0.28 percent. Japan’s Nikkei gained 0.31 percent, whereas Hong Kong’s Hang Seng Index dropped 0.43 percent. South Korea’s Kospi advanced 2.21 percent.US markets closed higher overnight. The Nasdaq climbed 1.26 percent, the S&P 500 gained 0.81 percent, and the Dow Jones Industrial Average rose 0.63 percent.
Institutional Flows
On February 25, foreign institutional investors net sold equities worth Rs 2,991 crore. Domestic institutional investors remained net buyers, purchasing equities worth Rs 5,119 crore.Market data showed that foreign investors reduced long positions by 1,314 contracts and cut short positions by 2,904 contracts, remaining net bullish by 1,590 contracts.
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