MUMBAI– Indian benchmark indices were trading slightly higher on Tuesday morning, buoyed by optimism after U.S. President Donald Trump signaled that a trade deal with India was imminent.
As of 9:30 a.m., the BSE Sensex was up 91.57 points, or 0.11%, at 83,534.07, while the NSE Nifty rose 22.25 points, or 0.09%, to 25,483.55.
Gains were seen across sectors including information technology, public sector banks, and financial services. Analysts said the market has mostly priced in expectations of a deal, but further movements will depend on the specifics of any sector-level tariffs that may be announced.
“The announcement of unilateral tariffs on 14 countries—with India notably excluded—suggests that a bilateral trade agreement is likely to be finalized soon,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “However, the market’s next move will depend on the details, especially in sectors like pharmaceuticals.”
In the previous session, the Nifty formed a green candlestick following a bullish hammer pattern, signaling potential upward momentum, according to technical analysts.
“A sustained move above the 25,500 level could trigger a rally toward 25,750,” said Mandar Bhojane, Technical Analyst at Choice Broking. “On the downside, immediate support is seen at 25,222 and 25,120—levels that could act as potential entry points for long positions.”
In sectoral indices, Nifty Bank was up 203 points, or 0.36%, at 57,152.20. The Nifty Midcap 100 gained 91 points, or 0.15%, to trade at 59,606.75, while the Nifty Smallcap 100 climbed 85.70 points, or 0.45%, to 19,035.85.
Among the top gainers on the Sensex were Kotak Mahindra Bank, Eternal, Tata Motors, Bharat Electronics Ltd (BEL), Adani Ports, NTPC, Asian Paints, and UltraTech Cement. On the flip side, Titan, HCL Technologies, Bharti Airtel, Mahindra & Mahindra, and Sun Pharma were among the biggest losers.
On the institutional front, foreign institutional investors (FIIs) bought equities worth ₹321.16 crore on July 7. Domestic institutional investors (DIIs) made even larger purchases, buying ₹1,853.39 crore worth of equities on the same day.
In broader Asian markets, indices in Seoul, Hong Kong, Tokyo, Shanghai, and Jakarta were all trading in the green, while Bangkok was the lone market in the red.
In the previous U.S. trading session, Wall Street closed lower. The Dow Jones Industrial Average fell 422.17 points, or 0.94%, to 44,406.36. The S&P 500 slipped 49.37 points, or 0.79%, to 6,229.98, and the Nasdaq dropped 188.59 points, or 0.92%, to 20,412.52. (Source: IANS)
