The Sensex and Nifty opened on a positive note on Tuesday, July 15, buoyed by favourable domestic cues, including softening retail inflation and sustained buying by domestic institutional investors (DIIs). At 9:24 am, the BSE Sensex was trading 156 points higher at 82,410, while the NSE Nifty gained 55 points to touch 25,136.
The uptrend in equity benchmarks was accompanied by strong performance in the broader markets. The Nifty Midcap 100 advanced 310 points to 59,363, while the Nifty Smallcap 100 index climbed 145 points to 19,100, reflecting improved investor sentiment across the board.
Inflation Undershoots RBI Forecast
A key driver for the market optimism was the sharp decline in India’s Consumer Price Index (CPI) inflation, which dropped to 2.10% in June. This figure is well below the Reserve Bank of India’s FY26 projection of 3.7%, fuelling expectations of an early rate cut and supporting risk appetite in equities.
Market analysts said the inflation print is likely to encourage policy easing later this year, particularly if global macro conditions remain supportive.
Sectoral And Stock-Wise Movement
In early trade, buying was visible across various sectors, particularly in the pharmaceutical, automotive, and banking industries. Among the top gainers in the Sensex basket were Sun Pharma, Bharat Electronics (BEL), Bharti Airtel, Mahindra & Mahindra, Tata Motors, Infosys, and Maruti Suzuki. On the other hand, stocks such as HCL Tech, Tata Steel, UltraTech Cement, HDFC Bank, and ICICI Bank experienced mild profit-booking.
Global Cues Mixed; Fund Flow Divergence Continues
Asian market performance was mixed, with Tokyo, Hong Kong, and Jakarta trading higher, while Shanghai, Bangkok, and Seoul slipped into the red. Wall Street ended Monday in the green, lending some support to risk sentiment.
On the fund flow front, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,614 crore on July 14. However, DIIs stepped in with purchases worth ₹1,787 crore, marking their sixth straight session of net buying.
Technical View
According to technical experts, a sustained move above the 25,378 mark on the Nifty could trigger fresh long positions. The index is currently trading in a cautiously bullish zone, but analysts advise close monitoring of global signals and key support levels, with immediate support seen around 24,950.
Hardik Matalia of Choice Broking said, “In the current environment of elevated volatility and mixed global cues, traders are advised to adopt a ‘buy-on-dips’ strategy while maintaining tight stop losses.”
–Input IANS
