The Indian stock market saw a positive opening on Wednesday, September 10, as the benchmark indices extended their gains. The Nifty 50 index rose for the sixth consecutive session, buoyed by optimism surrounding the resumption of trade talks between India and the U.S.

U.S. President Donald Trump’s announcement that tariff discussions with India would resume, coupled with his praise for Indian Prime Minister Narendra Modi as a “very good friend,” helped lift market sentiment.

Market Overview

At 9:16 a.m., the Sensex was up by 350.52 points (0.43%) at 81,451.84, while the Nifty gained 106.10 points (0.43%) to reach 24,974.70. On the broader market front, 1,728 stocks advanced, 595 declined, and 168 remained unchanged.

The IT sector saw the sharpest gains, continuing the positive momentum from the previous session. Infosys led the rally, surging more than 4% after the company announced plans to consider a share buyback later this week. Banking, metals, and oil & gas stocks also contributed to the overall positive sentiment, while the auto sector lagged.

Analysts’ Views

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that while President Trump’s diplomatic efforts were a positive for the market, investors should remain cautious and judge the impact based on actions rather than words.

Ajit Mishra, Senior Vice President of Research at Religare Broking, maintained a positive yet cautious outlook on the Nifty. He emphasized the importance of tracking the performance of banking and IT stocks for further cues.

Vinod Nair, Head of Research at Geojit Investments, also noted that while the market sentiment may remain range-bound due to global trade uncertainties, the prospects of a Fed rate cut and supportive domestic macroeconomic conditions could help sustain optimism in the short term.

Technical Outlook

On the technical front, Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the market was undergoing positive consolidation. For day traders, the key support zone is around 24,800, with resistance at 24,900. A successful breakout above 25,000 could push the market towards 25,100-25,150, while a drop below 24,800 could weaken the uptrend.

The recommended strategy is to buy if Nifty crosses 24,900 or sell if it falls below 24,800, with a stop-loss at these levels.

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