Market Opens Strong

Indian equity benchmark indices, BSE Sensex and Nifty50, opened in green on Tuesday, with Sensex reclaiming the 78,000 level and Nifty50 surpassing 23,700. By 9:20 AM, Sensex was up by 242 points or 0.31%, trading at 78,226.72, while Nifty50 was at 23,724.65, up by 66 points or 0.28%.

Driving Factors

Ajit Mishra, Senior Vice President - Research at Religare Broking, attributed the market's strength to FII buying in the cash market and their short-covering in derivatives. "Nifty has reclaimed its 200-day DEMA, reinforcing the positive sentiment," Mishra noted, suggesting sustained momentum across sectors.

Global Influences

The S&P 500 reached its highest level in over two weeks, buoyed by gains in Nvidia and Tesla, amid indications of a more balanced approach to tariffs by the Trump administration. Asian equities also advanced, following robust US market performance.

Investment Trends

Foreign institutional investors (FIIs) were net buyers in Indian equities, purchasing shares worth Rs 3,055.76 crore, while domestic institutional investors (DIIs) bought shares worth Rs 98.54 crore.