Stock Market Opens Higher On Positive Global Cues; Midcaps And Smallcaps Gain Momentum

Indian equity benchmarks began Wednesday’s trading session on a firm note, tracking upbeat global sentiment and buoyant investor mood. By 9:40 am, the BSE Sensex had advanced 155.81 points or 0.19 per cent to 80,893.32, while the NSE Nifty rose 60 points or 0.25 per cent to 24,602.80.

In the Sensex basket, Bharti Airtel, Zomato, Tata Motors, M&M, IndusInd Bank, Maruti Suzuki, Tech Mahindra, Bajaj Finance, ITC, HUL, and Infosys led the rally. On the flip side, TCS, Ultratech Cement, ICICI Bank, Titan, and Sun Pharma were among the top laggards in early trade.

Broader markets showed notable strength, with buying interest extending beyond blue-chip stocks. The Nifty Midcap 100 surged 309.30 points or 0.54 per cent to 57,826.40, while the Nifty Smallcap 100 added 88.40 points or 0.49 per cent to reach 18,210.75.

Market Levels To Watch

Analysts are keeping a close eye on key technical levels. Mandar Bhojane, Equity Research Analyst at Choice Broking, noted that Nifty may find support around 24,500, followed by 24,400 and 24,300, while resistance could emerge near 24,800, and extend to 24,900 and 25,000.

Global Markets Cheer Gains

Asian markets opened largely in the green with indices in Tokyo, Shanghai, Hong Kong, Seoul, and Jakarta registering gains. The positive tone came on the back of Wall Street’s strong close on Tuesday. 

FII-DII Activity Shows Divergence

Foreign institutional investors (FIIs) remained net sellers for the third straight session on June 3, pulling out Rs 2,853.83 crore, according to provisional exchange data. In contrast, domestic institutional investors (DIIs) continued their buying streak for the 11th consecutive session, investing Rs 5,907.97 crore into equities.

Economic Outlook And Rate Cut Expectations

Market strategists believe India’s economic landscape remains supportive for equities. With CPI inflation under control, the Reserve Bank of India (RBI) is expected to initiate at least two more rate cuts in 2025, which may mildly affect banking margins. However, large private lenders are still poised to deliver 12–15 per cent returns over the year, analysts suggest.

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Retail Participation Strengthens

Commenting on broader market resilience, Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “The strong fundamental factors that will support the market are India’s robust and improving macros and sustained flows into mutual funds, particularly the SIP inflows which are steady and growing. This reflects the coming of age of the Indian retail investor.”