Analysts said the dip followed the US Federal Reserve’s 25 basis points rate cut. Investors were disappointed with the cautious outlook on future easing. Markets are now awaiting further clarity on US policy direction.

In broader markets, the Nifty Midcap 100 rose 0.16 percent, while the Nifty Smallcap 100 edged down 0.04 percent. Among Nifty gainers were Hero MotoCorp, Shriram Finance, Maruti Suzuki, NTPC, and Tech Mahindra. Losers included ICICI Bank, Bajaj Finance, Tata Consumer, and Titan Company.

Sector-wise, Nifty IT was the biggest drag, falling 0.40 percent. Nifty FMCG and Nifty Private Bank also weighed on the indices, while Nifty Realty and PSU Bank managed to stay positive.

Analysts noted that while buying interest remains at lower levels, resistance lies in the 25,500–25,600 zone. Support is seen around 25,300–25,100. Experts believe the uptrend remains intact, with strong fundamentals and improving earnings expected from Q3 onwards.

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The benchmark BSE Sensex opened over 300 points higher, while the NSE Nifty crossed the 25,000 mark in morning trade. Banking, IT, and metal stocks led the rally, supported by strong global cues and renewed buying interest from foreign institutional investors.

Analysts say the Fed’s dovish signals are improving risk appetite worldwide. Lower interest rates in the U.S. could encourage more capital inflows into emerging markets like India, making equities attractive relative to bonds. On the domestic front, stable macroeconomic indicators – including steady GST collections and easing crude oil prices – have also boosted investor confidence.

Sectors such as banking and financial services were among the top performers in early trading, with heavyweights like HDFC Bank, ICICI Bank, and Infosys contributing significantly to the Sensex gains. On the Nifty, metal stocks saw a sharp rebound on expectations of global demand recovery.

Market experts caution, however, that volatility may persist as investors continue to track U.S. inflation data and the Fed’s policy outlook. Domestically, quarterly earnings and government policy measures will play a key role in shaping near-term trends.

For now, the mood in Dalal Street remains upbeat, with traders eyeing further momentum if global liquidity conditions improve.

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