Indian equity benchmarks opened higher on Monday, reflecting cautious optimism amid mixed global signals. The Sensex climbed 221 points to 80,821, while the Nifty advanced 82 points to 24,647 in early trade, powered largely by gains in auto and metal stocks.
Sectoral momentum was led by auto and metal indices, rising 0.93% and 1.07% respectively, as investors turned to cyclical plays amid continued macro uncertainty. Nifty Bank also posted modest gains of 0.13%, reaching 55,688.
Broader market sentiment remained positive with notable buying in mid and small caps. The Nifty Midcap 100 index rose by 0.44%, while the Smallcap 100 index climbed 0.39%, reflecting continued domestic investor interest in second-tier stocks.
Among sectoral indices, Nifty IT was the lone laggard, under pressure from global tech weakness. Infosys, HCL Tech, and Tech Mahindra featured among the top losers in the Nifty pack.
On the technical front, Nifty has successfully crossed its 100-day Exponential Moving Average (EMA), and analysts suggest that the next major support lies near the 200-day EMA at 24,180, followed by the psychological support of 24,000.
"If Nifty can sustain above the 24,750 mark, a rally towards 25,250&ndash;25,500 could unfold," noted Hardik Matalia, Technical Analyst at Choice Equity Broking. "However, visible resistance near key option strikes and global volatility continue to pose challenges."
Leading the Nifty gainers were Bharat Electronics, Grasim Industries, Tata Steel, and Shriram Finance, while IT stocks dragged due to weak cues from the US tech space.
Globally, Wall Street closed sharply lower on Friday as concerns over US job data and tariffs weighed on investor sentiment. The Dow Jones fell 1.23%, the S&amp;P 500 lost 1.60%, and the Nasdaq Composite plunged 2.24%, leading to increased speculation that the US Federal Reserve may cut interest rates in the coming month.
Asian markets opened on a mixed note, China&rsquo;s Shanghai Composite edged up 0.23%, Hong Kong&rsquo;s Hang Seng gained 0.50%, and South Korea&rsquo;s Kospi was up 0.77%. However, Japan&rsquo;s Nikkei 225 dropped sharply by 1.63%.
On the institutional side, foreign investors extended their selling streak for the tenth straight session on August 1, pulling out ₹3,366 crore. In contrast, domestic institutional investors (DIIs) showed continued faith in Indian equities, pumping in ₹3,186 crore, their 20th straight day of net buying.
Market analysts believe that the next leg of the rally or correction could be shaped by updates on the US-India trade negotiations expected later this month.&nbsp;

Indian markets open higher led by auto and metal stocks; Nifty eyes next resistance zone

Sensex, Nifty Gain on Auto, Metal Rally

Indian markets open higher led by auto and metal stocks; Nifty eyes next resistance zone

August 4, 2025 | 10:19 IST