CHENNAI: Indian stock markets opened on a firm note on Wednesday, July 23, tracking positive cues from Asian peers, as investor sentiment was buoyed by the announcement of a trade deal between the United States and Japan.
The 30-share BSE Sensex opened at 82,451.87, rising 265.06 points or 0.32% from the previous close of 82,186.81. The broader Nifty 50 also gained ground, starting the day at 25,139.35, up 78.45 points or 0.31% from Tuesday’s close of 25,060.90.
The upbeat start to the session was supported by broader gains across Asian markets. Japan’s Nikkei jumped over 2.5% after news broke that Tokyo and Washington had reached an agreement to ease tariffs on select goods, notably automobiles. The move injected optimism into regional trade prospects and improved overall risk sentiment across Asian equities.
Back home, sectoral performance was largely positive in early trade. Auto, metal, pharma, and oil & gas stocks saw notable gains, while realty stocks underperformed. Key gainers on the Nifty included Tata Motors, Maruti Suzuki, Bajaj Finance, Adani Ports, Bharti Airtel, and Infosys. On the other hand, Titan, SBI, HDFC Bank, and Hindustan Unilever showed weakness in the initial session.
The rally was also supported by expectations of positive earnings momentum, with several blue-chip companies including Infosys, Dr. Reddy’s Labs, and Tata Consumer Products scheduled to report quarterly results this week. However, some caution persisted in the backdrop of foreign institutional investor (FII) selling and uncertainty over stalled India–US trade discussions.
On the currency front, the Indian rupee opened largely flat at around ₹86.41–86.46 against the US dollar. Meanwhile, global commodity prices showed mixed trends, with Brent crude trading near $69 per barrel and gold holding steady above $3,400 per ounce.
Going ahead, market participants are expected to track global developments, especially progress in US–China and India–US trade talks, along with domestic earnings announcements. While global cues are currently favorable, analysts caution that upside may be limited in the near term due to mixed domestic signals and profit-booking at higher levels.
