Indices open higher; NIFTY50 above 25,100 level, SENSEX rises 203 points; Tata Motors top gainer

Tracking its Asian peers, the Indian stock market opened higher as auto stocks rallied on Wednesday, July 23.

The broader market was, however, underperforming in the early session, with Nifty Midcap 100 and Nifty Smallcap 100 falling 0.09% and 0.28%, respectively.

Among sectors, Nifty Auto was the top contributor, surging 0.95%, followed by Nifty Metal (0.39%) and Nifty Oil and Gas (0.32%). Nifty Realty tumbled 2.05%, taking the lead among losers.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold equities worth ₹3,548.92 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹5,239.77 crore worth of equities.

Globally, Asian stocks were trading higher following the trade deal between Japan and the US. President Donald Trump said on Tuesday that the US has agreed to a trade deal with Japan, which would see a 15% US tariff on Japanese goods.

Japan's Nikkei was trading 3.3% higher at 41,087.65 levels, while Hong Kong's Hang Seng was seen at the 25,390.83 level, gaining 0.97%.

The Shanghai Composite also traded higher by 0.75% at 3,608.58 levels. South Korea’s Kospi index was also up 0.10% at 3,171.16 levels.

On Wall Street, the S&P 500 hit a record-high close as investors focused on upcoming quarterly reports and watched for further trade discussions.

The S&P 500 climbed 0.06% to end the session at 6,309.62 points. The Nasdaq declined 0.39% to 20,892.69 points, while the Dow Jones Industrial Average rose 0.40% to 44,502.44 points.

As many as 2,471 stocks traded on the NSE during the early session, among which 1,154 were trading in the green, 1,231 were trading in the red, and 86 shares remained unchanged.

This indicates that the market breadth was in favour of declines.

Meanwhile, 33 stocks hit their one-year highs in the early trade, while only 9 stocks touched their 52-week lows.

Further, 30 stocks hit their upper circuits, while 17 hit their lower circuits.

India VIX, the volatility gauge, was trading 1.18% lower at 10.63 levels.

 Tata Motors was the most contributing stock, rising 2.41%, followed by Maruti Suzuki (1.41%), Bajaj Finance (1.29%), Jio Financial Services (1.21%), and IndusInd Bank (1.1%).

On the flip side, Tata Consumers (-1.18%), Titan (-0.63%), Bharat Electronics (-0.43%), Hindustan Unilever (-0.41%), and Tech Mahindra (-0.34%) were the biggest losing stocks on the 50-share index.