Mumbai: Indian stock markets opened on a positive note on Wednesday, buoyed by upbeat global cues.

The Sensex rose 243 points, or 0.30 per cent, to trade at 82,273, while the Nifty climbed 79 points, or 0.31 per cent, to start the day at 25,225.

Commenting on the Nifty’s technical outlook, experts said that although the 20-day simple moving average (SMA) provided some support yesterday, limiting the decline, the bearish engulfing pattern suggests a prevailing bearish bias.

“However, we remain ready to switch sides if the Nifty moves above 25,230. A break beyond 25,330 would be required to play directional upside opportunities,” they added.

Buying was observed across most sectors, led by heavyweights such as Bajaj Finserv, Bajaj Finance, NTPC, L&T, Power Grid, BEL, Bharti Airtel, Trent, and Asian Paints, which gained up to 1.2 per cent in early trade.

Some pressure was seen in select counters, including Tech Mahindra, Axis Bank, Infosys, and Titan Company, which slipped by up to 1.2 per cent.

In the broader market, the Nifty MidCap index rose 0.38 per cent, while the Nifty SmallCap index gained 0.20 per cent, indicating positive momentum beyond frontline indices.

Among sectoral indices, Nifty IT and Financial Services advanced 0.6 per cent each, while PSU Bank and Realty indices also traded higher, reflecting a broadly optimistic market mood.

Experts noted that investors are likely to track global market trends, crude oil prices, and institutional flows for further direction.

“In the current environment of heightened volatility and mixed market cues, traders are advised to maintain a cautious 'buy-on-dips' approach, particularly when using leverage," analysts said. "Booking partial profits during rallies and maintaining tight trailing stop-losses is recommended to manage risk. Fresh long positions should be considered only if the Nifty sustains above the 25,300 mark.”

IANS