Mumbai, Aug 20: Indian equity benchmarks opened higher on Tuesday, driven by strong performances in tech stocks like TCS and Wipro. At 9:50 a.m., the Sensex was up 364 points (0.44%) at 80,774, and the Nifty was up 108 points (0.44%) at 24,683.
Smallcap and midcap stocks are also seeing gains, with the Nifty midcap 100 index up 143 points (0.25%) at 57,903 and the Nifty small 100 index up 77 points (0.41%) at 18,829. Sectoral indices for Auto, IT, PSU Bank, financial services, realty, infrastructure, healthcare, energy, and private banks are leading the gains, while media is the only sector in the red. The market remains stable with 1,784 stocks advancing and 389 declining. India Vix is down by 1.68% at 14.08 points. Asian markets show mixed results with Tokyo, Bangkok, Seoul, and Jakarta in the green, while Hong Kong and Shanghai are in the red.
US markets ended positively on Monday. Crude oil prices are at $77 per barrel for Brent and $73 per barrel for WTI. Analysts from Choice Broking noted that global markets are forming higher highs and lows, indicating strength, and suggested that Indian markets could reach the next resistance level of 24,800. Traders with long positions are advised to use a trailing stop loss of 24,400 on a closing basis. Foreign institutional investors bought equities worth Rs 2,667 crore on August 19, while domestic institutional investors purchased equities worth Rs 1,802 crore.
