Indian Markets Open Higher: Nifty Trades Above 25,100 Amid Broad-Based Sector Rally

Indian equity benchmarks edged higher in early trade on Tuesday, buoyed by broad-based sectoral gains. The Nifty 50 hovered near the 25,100 mark amid consolidation signals from analysts.

At 9:20 a.m. IST, the Nifty 50 had risen 26 points to 25,129.45, while the Sensex was up 54 points to 82,499.45.

Broader markets remained resilient, with the Nifty Midcap index up 0.1% and the Smallcap index gaining 0.9%. 

All sectoral indices ended in the green on Monday, with the Nifty Media index leading gains, up 0.87%, followed by IT, financial services, metals, and consumer durables. 

Even traditionally defensive sectors like pharma, FMCG, and healthcare posted positive returns, reflecting broad-based buying across the market.

Analysts expect the Nifty to consolidate near 25,100 on June 10, with immediate resistance between 25,130 and 25,200, while support levels are pegged between 25,000 and 24,950.

The retail sentiment on Stocktwits remained 'bullish.'

Jana Small Finance Bank surged 5.5% after the lender applied to the RBI for conversion into a universal bank, a move that could significantly expand its operational scope.

IRB Infrastructure rose 1.8% as the company reported a 9% year-on-year increase in toll revenue for May, totaling ₹581 crore.

Force Motors gained 1% following the resignation of CFO Sanjay Kumar Bohra. The company named Rishi Luharuka as the successor, effective June 10.

Apollo Pipes advanced 0.7% after the company increased its stake in Kisan Mouldings Ltd by 1.01% via a secondary market purchase.

Tata Power also rose 0.7% after its solar unit, TP Solar, surpassed the 4 GW production milestone at its Tamil Nadu facility.

Wipro rose 0.6% despite the Azim Premji Trust offloading 20.23 crore shares via a ₹5,057-crore block deal.

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup.

Prabhat Mittal pegged Nifty support at 24,980, with resistance seen at 25,220. For the Bank Nifty, he identified 56,500 as support and 57,300 as resistance.

Ashish Kyal said that Nifty is trading in gap zones and maintains a positive trend above 25,160, with potential upside to 25,300. 

He marked 24,980 as key gap support and advised traders to avoid picking a top, noting that a simple trend-following approach may work best unless the index closes below the prior day's low.

Meanwhile, Praveen Girotra said staying above 25,112 keeps it a buy-on-dips market for Nifty and Bank Nifty.

Globally, Asian markets traded higher as the U.S. and China began talks in London to ease trade tensions between the world's two largest economies.

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