CHENNAI: Indian equities opened on a positive note on Tuesday, with the Nifty climbing nearly 50 points to trade just shy of the 24,650 mark by 10:27 a.m. The Sensex also gained in early trade, advancing over a hundred points. However, banking stocks lagged, with the Nifty Bank slipping about 0.30%.
The early uptick was supported by firm sentiment in Asian markets and cautious relief after recent tariff-related jitters, though investors remained watchful ahead of key US inflation data later this week. Overnight, Wall Street had closed lower on rate concerns, but the broader Asian region showed a mixed-to-positive tone.
In sectoral trends, auto, IT and oil & gas stocks were among the early gainers, while select cyclical and realty counters came under mild pressure. Large-cap movers included Tech Mahindra, TCS and Tata Steel on the upside.
Earnings remain in focus as Apollo Hospitals, Hindalco and ONGC are set to announce results today, marking the final batch of Nifty companies for the ongoing reporting season. Hindalco drew attention in early trade after developments at its US subsidiary Novelis.
The rupee edged higher against the US dollar in morning deals, while domestic institutional buying continued to provide support to the market despite foreign investor outflows. Traders noted that the Nifty faces immediate resistance near 24,650, with support seen around 24,350.