Mumbai: Indian equity markets opened on a positive note on Tuesday, even as most Asian peers traded flat. Investors are keeping a close watch on global trade developments and domestic Q2 FY26 earnings to gauge market direction.

At the opening bell, the Sensex rose 98 points, or 0.12 per cent, to 84,877, while the Nifty gained 26 points, or 0.10 per cent, to 25,992, briefly testing the 26,000 mark.

Analysts noted that the Nifty has continued to hold firm above its key support zone of 25,700–25,750, maintaining a sideways-to-bullish bias. “On the upside, immediate resistance is seen at 26,000-26,100, and a decisive move above 26,000 could accelerate the rally toward 26,100-26,200 in the near term,” they said.

Among Sensex constituents, Tata Steel, SBI, L&T, Bharti Airtel, Power Grid, HUL, Axis Bank and Maruti Suzuki were top gainers, advancing up to 0.7 per cent. On the other hand, ICICI Bank, Bajaj Finance, Asian Paints, Bharat Electronics, Bajaj Finserv and Sun Pharma opened in the red.

In the broader market, the Nifty MidCap index inched up 0.08 per cent, while the Nifty SmallCap index gained 0.36 per cent, signalling resilience in smaller stocks. Sectorally, PSU banks led the advance, with the Nifty PSU Bank index climbing 1.2 per cent. The Nifty Auto and Nifty Metal indices also traded higher, up about 0.15 per cent each.

Analysts said investors remain cautiously optimistic, buoyed by strong domestic earnings and global cues. “There are indications of a possible agreement between the US and China on tariffs, and if there is a breakthrough in the Trump-Xi meeting on Thursday, that will give another leg up to the markets globally where the leading indexes like S&P 500, Nikkei and Kospi are at record highs,” they noted.

They added that India’s robust GDP growth and corporate earnings continue to lend fundamental support to the market. However, relatively high valuations could prompt foreign investors to turn sellers if the rally gathers pace.

IANS