Indian Markets Open Higher on Global Cues; Nifty Eyes 25,800, US-China Talks in Focus

GG News Bureau
Mumbai, 10th June: Indian equity indices opened Tuesday’s trading session on a firm note, buoyed by positive global cues and hopes of easing tensions between the US and China. The NSE Nifty 50 climbed 54 points, or 0.22%, to open at 25,157, while the BSE Sensex rose 118 points, or 0.14%, to 82,564.

However, Bank Nifty underperformed, slipping 34 points or 0.06% to open at 56,805. In contrast, the Nifty Midcap 100 surged 168 points, or 0.28%, to start at 59,843.

“Yesterday marked an upside follow-through of Friday’s advance for Nifty. Whether the breakout is from a pennant or rectangle pattern, the implications remain bullish with a target of 25,800. As long as the index holds above 24,800, the bulls retain control,” noted Akshay Chinchalkar, Head of Research, Axis Securities.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, expects the index to consolidate within a 24,500–25,500 range. “There are no immediate triggers for a breakout beyond this. Minor profit booking may pull markets slightly down, but strong liquidity should support buying on dips,” he added.

Top gainers in the Nifty 50 during the morning trade included Grasim Industries, IndusInd Bank, UltraTech Cement, Tech Mahindra, and Wipro. On the flip side, laggards included Bajaj Finserv, ICICI Bank, Zomato, Trent, and SBI Life Insurance.

Investor sentiment was also influenced by ongoing trade talks between US and Chinese officials in London. Markets are hopeful for a positive resolution after months of tension over issues like advanced semiconductors and rare earth materials critical to AI and automotive industries.

With geopolitical developments and technical levels both in play, the market remains poised for cautious optimism in the near term.