Indian Markets Open Strong: Nifty IT Surges 1.7% as Infosys, Wipro Lead Gains; Global Cues Boost Sentiment

Mumbai (The Uttam Hindu): The Indian stock market opened on a positive note on Tuesday, with the Nifty IT index surging 1.7% in early trade. At around 9:23 AM, the Sensex rose 355 points, or 0.44%, to 81,142, while the Nifty gained 99 points, or 0.40%, to 24,873.

The broadcap indices remained mostly stable, with the Nifty Midcap 100 up 0.05% and the Nifty Smallcap 100 slightly down by 0.01%. Shares of Infosys jumped 3.35% following the company’s announcement to consider a buyback proposal in its September 11, 2025, meeting, boosting the Nifty IT sector. Wipro also gained 2.36%. Top gainers in the Nifty pack included Tech Mahindra, TCS, and Bajaj Finserv, while Titan, Shriram Finance, ICICI Bank, Tata Consumer, and Tata Motors were among the top losers.

Sectorally, the Nifty Pharma rose 0.47% and Nifty Auto climbed 0.21%, while other indices saw marginal declines.

Analysts noted that Nifty formed a small red candle with a long upper shadow on the daily chart, indicating consolidation and volatility. They said buying interest was visible at lower levels, but the 24,900–25,000 zone remained a strong resistance. Support is seen at 24,620, and some consolidation or minor weakness may continue as long as Nifty trades below 25,000.

Anand James, Chief Market Strategist at Geojit Investments Limited, added: “Upward momentum disappeared near 24,870, which we had marked as a key pivot yesterday. The downward move was sudden and sharp. We will look for clarity in closing above the 24,730–24,870 range.”

Overseas, U.S. markets saw gains, with the Dow Jones Industrial Average up 0.25%, Nasdaq up 0.45%, and S&P 500 up 0.21%. Investors await two key inflation reports that could guide the Federal Reserve’s next policy meeting.

Asian markets were mixed in the morning session. China’s Shanghai index fell 0.35% and Shenzhen 1%, while Japan’s Nikkei rose 0.2%, Hong Kong’s Hang Seng gained 0.82%, and South Korea’s Kospi climbed 1.06%. Foreign institutional investors (FIIs/FPIs) sold shares worth ₹2,170.35 crore on Friday, while domestic institutional investors (DIIs) bought ₹3,014.30 crore worth of shares.