Mumbai, February 10: On the second trading day of the week, the Indian stock market opened positively amid mixed signals from global markets. The benchmark Sensex opened at 84,210, rising 144.25 points from its previous close of 84,065.75. Meanwhile, the Nifty opened at 25,922.65, gaining 55.35 points from its last close of 25,867.30.
As of approximately 9:22 AM, the 30-share BSE Sensex was trading at 84,203.42, up 137.67 points or 0.16%. The NSE Nifty was at 25,904.95, reflecting an increase of 37.65 points or 0.15%. Most Nifty indices were trading in the green, except for Nifty FMCG and Nifty IT.
In broader market performance, the Nifty Midcap index rose by 0.21%, while the Nifty Smallcap index saw a gain of 0.49%.
Sector-wise, the Nifty Pharma index recorded a growth of 0.46%, while the Nifty IT and Nifty PSU Bank indices faced a decline of 0.2%.
Within the Sensex pack, stocks like Eternal, Titan, Axis Bank, Tata Steel, TCS, Sun Pharma, and Power Grid emerged as top gainers. Conversely, Bajaj Finance, Asian Paints, Indigo, HCL Tech, HDFC Bank, and SBI experienced the most significant declines.
Akash Shah, a technical research analyst at Choice Broking, noted that the benchmark indices continued their recovery from the previous session, with Nifty50 closing above 25,850 and Sensex gaining nearly 500 points.
Experts indicated that technically, Nifty has maintained its position above key moving averages, strengthening its hold above the 25,700-25,800 range. The next resistance level for Nifty is near 26,000, followed by 26,100. A decisive breakout above 26,000 could lead to increased short covering and sustain the current bullish trend. On the downside, the first significant support is at 25,700, followed by 25,500.
Overall, the market structure remains positive, with the potential for trading within a limited range. Investors may focus on selective stocks in banking, PSU, metals, and news related to earnings and sectors. However, caution and strict risk management are advised as Nifty approaches the critical resistance level of 26,000.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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