Indian Stock Markets Surge Amidst Renewed US-India Ties

Indian stock markets saw upward momentum with key indices gaining strength, influenced by foreign investments and positive political engagements between India and the US. Key sectors like metals and banking performed well, while corporate earnings reports from prominent companies are under investor scrutiny.

On Tuesday, Indian stock markets maintained their upward trajectory, as major indices opened with gains. This positive trend was largely attributed to an increase in Foreign Portfolio Investor (FPI) inflows and optimistic sentiment following a high-profile meeting between Prime Minister Narendra Modi and US Vice President JD Vance. Experts perceive this interaction as pivotal for enhancing economic and trade cooperation.

The Nifty 50 index commenced trading at 24,185.40, marking an increase of 59.85 points or 0.25 percent. Similarly, the BSE Sensex clocked in at 79,728.39, up by 319.89 points or 0.40 percent. Market analysts highlight India's strong performance despite weak global indicators, crediting solid domestic fundamentals and renewed hope in Indo-US relations.

Expert Ajay Bagga noted that Indian markets showed resilience with the Bank Nifty index achieving a lifetime high. He emphasized the positive FPI flows in equity cash segments supporting this rally despite global concerns. The meeting between the Indian Prime Minister and the US Vice President is seen as a strategic move to amplify ties in trade, defense, energy, and technology, boosting Indian market sentiment.

Sector-wise, all indices opened positively, except the Nifty IT index, which saw little movement. Key sectors like the Nifty PSU Bank and Nifty Metal Index marked gains, reflecting significant investor interest in cyclical and infrastructure-related stocks. Meanwhile, investor focus shifts to quarterly earnings of major players including HCL Technologies and Havells India, among others.

Analyst Akshay Chinchalkar observed a bullish pattern with Nifty ending higher for the fifth consecutive day, reminiscent of the post-COVID recovery phase. Sustainable gains rely on maintaining a close above recent highs, with the next target between 24,000 to 24,500 range if support at 23,872 holds. In other Asian markets, trends were mixed, with Singapore's Straits Times Index rallying over 1.5 percent, contrasting with declines in Japan's Nikkei and Taiwan's Weighted Index.

(With inputs from agencies.)