Dalal Street Opens Higher Amid Volatility, Sensex Crosses 82,200, Nifty Up 26 Points
In the pre-open session, the Sensex fell over 10 points to breach 82,150, around 9:05 AM. On the other hand, the Nifty jumped 22 points to cross 25,200.
Indian markets geared up for a volatile session on Tuesday. The BSE Sensex opened the day above 82,200, climbing almost 75 points, while the NSE Nifty50 began trading at 25,209, rising 26 points.
On the 30-share Sensex, Maruti, M&M, Tata Motors, Tata Steel, and Bajaj Finance emerged among the gainers. On the other hand, the laggards were dominated by UltraTech Cement, Asian Paints, Adani Ports, Sun Pharma, and Titan.
In the broader markets, the Nifty Smallcap50 led after it rose 0.20 per cent. Sectorally, the Auto index stood out as it jumped 1.61 per cent, while the PSU Bank index bled 0.54 per cent.
Notably, the GIFT Nifty gave indications of a weak day ahead for markets after it slipped 0.17 per cent to touch 25,270, around 7 AM. In the pre-open session, the Sensex fell over 10 points to breach 82,150, around 9:05 AM. On the other hand, the Nifty jumped 22 points to cross 25,200.
Market sentiment stayed fragile on Monday as concerns over US President Donald Trump’s $100,000 “one-time payment” H-1B visa fee and fresh tariff threats dampened hopes of progress on an India-US trade deal, pressuring the Nifty IT index, said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Foreign institutional investors (FIIs) continued to pare holdings, offloading equities worth Rs 2,910.09 crore, according to exchange data. Sustained selling by FIIs has been a major drag on Indian equities since the September 2024 peak, driven largely by stretched domestic valuations compared with more attractive opportunities overseas. “The high valuation differential between India and other markets has enabled FIIs to move money from India and profit from it. The scenario will change when India’s corporate earnings start improving,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
In Asian trade, Shanghai’s SSE Composite Index and Hong Kong’s Hang Seng ended lower, while South Korea’s Kospi closed in positive territory. US markets finished higher overnight. Global crude benchmarks softened, with Brent falling 0.60 per cent to $66.17 a barrel.
In the previous trading session on Monday, both indices slipped for the second straight session, weighed down by heavy selling in IT counters after US President Donald Trump announced a steep hike in H-1B visa fees.
The Sensex crashed 466.26 points, or 0.56 per cent, to close at 82,159.97 after touching an intraday low of 81,997.29, down 628.94 points. The Nifty tumbled 124.70 points, or 0.49 per cent, to finish at 25,202.35.
Trump, on Friday, signed a proclamation imposing a $100,000 fee on H-1B visas used by foreign workers, including Indians. The White House clarified the levy would apply only to new applicants. The development triggered a sharp sell-off in IT stocks.
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