Daijiworld Media Network – Mumbai

Mumbai, Jun 10: India’s benchmark indices opened on a positive note on Tuesday, with the Nifty50 crossing the 25,100 mark and the BSE Sensex trading above 82,500, reflecting continued investor optimism and buoyant global cues.

At 9:17 AM, the Nifty50 was trading at 25,126.10, up 23 points or 0.091%, while the Sensex stood at 82,494.36, higher by 49 points or 0.060%. Analysts note that the domestic market is being bolstered by strong liquidity and sustained institutional support, both foreign and domestic.

According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the market is expected to consolidate within the 24,500–25,500 range in the near term. While stretched valuations may prompt intermittent profit booking, the overall sentiment remains constructive, supported by ample liquidity and favourable fundamentals.

Globally, US equities closed higher on Monday, led by gains in tech majors like Amazon and Alphabet, as attention remained on US-China trade negotiations. The positive undertone carried forward into Asia on Tuesday, with regional indices opening higher amid growing optimism over diplomatic efforts between the two economic giants.

On the commodities front, gold prices held steady, as investors closely tracked the trade dialogue outcomes. The global investment landscape continues to be influenced by macroeconomic cues and policy shifts from key economies.

Back home, foreign portfolio investors net purchased equities worth Rs 1,993 crore on Monday, while domestic institutional investors were even more aggressive, net buying Rs 3,504 crore worth of shares. However, futures data revealed an increase in net short positions by foreign institutional investors, climbing to Rs 95,872 crore from Rs 92,600 crore at the previous close.

With both domestic and global cues aligning positively, the market remains in a consolidation phase with an upward bias, as investors weigh economic indicators and policy developments.