Nifty, Sensex open positive amid supportive global cues and FPI inflows, PSU banks, pharma stocks lead

Mumbai (Maharashtra) [India], February 10 (ANI): The share market in the country witnessed a turnaround with a positive opening continuing on Tuesday, as foreign inflows returned to domestic markets and investor sentiment remained upbeat.
The benchmark indices opened in the green. The Nifty 50 index opened at 25,922.65, registering a gain of 55.35 points or 0.21 per cent, while the BSE Sensex opened at 84,210, up by 144.25 points or 0.17 per cent.
Market experts said the positive opening was supported by renewed buying from foreign portfolio investors and strength across broader market indices.
Ajay Bagga, Banking and Market Expert, told ANI, "The Indian stock futures are pointing to a positive start, which could see further consolidation as FPIs have turned net buyers in February. Broader Indian indices outperformed the mainboard indices."
He added that expectations of stronger business activity after the US-India framework deal on trade helped several sectors rally.
"Hopes of a strong boost in orders post the US-India framework deal on trade saw sectors like textiles, gems and jewellery, auto parts and the bankers to all Indians, the PSU banks rallying strongly," Bagga said.
According to the data, fund flows in the cash market on Tuesday at NSE showed FII inflows of Rs 2,254.6 crore, while DII inflows stood at Rs 4.2 crore.
In the broader market, gains were visible across indices. On the NSE, the Nifty 100 surged by 0.20 per cent, Nifty Midcap 100 gained 0.20 per cent, and Nifty Smallcap 100 jumped by 0.46 per cent, indicating strong participation beyond the frontline stocks.
Sectorally, mixed trends were seen. Nifty Auto gained 0.24 per cent, Nifty Pharma rose by 0.5 per cent, and Nifty PSU Bank surged 0.23 per cent. However, some sectors witnessed mild pressure, with FMCG down by 0.02 per cent, IT slipping 0.21 per cent, and Metal easing by 0.02 per cent.
In the commodities market, gold prices continued to remain elevated at Rs 1,57,255 per 10 grams for 24 karat, while silver prices declined on Tuesday by 1.5 per cent to Rs 2,59,167 per kg.
Bagga noted that "Gold and silver saw dip buying returning. Crypto also saw fresh buying and tentative recoveries."
Global cues remained supportive. In the US markets, the S&P 500 surged by 0.47 per cent, while the Nasdaq gained 0.97 per cent on Monday. Another record was reported for the Dow Jones. Japanese stocks also remained strong, while US Big Tech stocks saw a dip in buying.
Meanwhile, oil prices saw a brief spike following a US warning to ships to steer clear of Iranian waters in the Straits of Hormuz. The global markets are currently navigating a mix of geopolitical developments, political transitions, and a rotation in investor sentiment, setting the tone for Tuesday's trade. (ANI)