Sensex, Nifty trade higher amid sustained foreign inflows

Mumbai, Feb 10 (IANS) The Indian equity markets posted moderate gains early on Tuesday amid strong global cues and continuing foreign inflows.

As of 9.28 am, Sensex added 182 points, or 0.22 per cent, to reach 84,247, and Nifty gained 50 points, or 0.19 per cent, to settle at 25,917.

Main broad-cap indices performed in line with benchmark indices, as the Nifty Midcap 100 added 0.20 per cent, and the Nifty Smallcap 100 edged up 0.58 per cent.

All sectoral indices traded in the green. Most notable gainers were Nifty consumer durables, up 0.85 per cent, realty up 0.55 per cent and metals 0.53 per cent. ONGC was among the top gainers.

Immediate support for Nifty is placed at 25,500-25,700 zone, while resistance is anchored at 26,000–26,100 zone, market watchers said.

Analysts said improving sentiment around renewed foreign inflows, strength in the US markets, and optimism surrounding the interim India-US trade framework are providing near-term support.

In Asian markets, China’s Shanghai index lost 0.02 per cent and Shenzhen eased 0.02 per cent, Japan’s Nikkei gained 2.49 per cent and Hong Kong’s Hang Seng Index edged up 0.6 per cent. South Korea’s Kospi gained 0.14 per cent.

The US markets ended in the green in the last trading session as Nasdaq gained 0.9 per cent. The S&P 500 added 0.47 per cent, and the Dow Jones added 0.04 per cent.

On February 9, foreign institutional investors (FIIs) net bought equities worth Rs 2,255 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 4 crore.

Meanwhile, the Indian equity markets posted strong gains on Monday, buoyed by the announcement of an interim framework for the India–US trade deal. At the closing bell, the Sensex had gained 485 points, or 0.58 per cent to settle at 84,065. The Nifty surged 173 points, or 0.68 per cent, to close at 25,867.

—IANS

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