Indian equity benchmarks opened on a cautious note on Wednesday, with minor gains in early trade as investors assessed global cues and sectoral trends. The Sensex edged up by 59 points, trading near 82,451, while the Nifty 50 advanced 18.55 points, hovering around the 25,122 mark.

Out of 15 sectoral indices on the National Stock Exchange, 11 were in the green, while two traded lower and two remained unchanged. The Nifty Media index led the pack, showing the most notable gains among sectors. Buying interest was evident in metal and oil & gas stocks, while FMCG and PSU banks witnessed some profit booking.

Top Gainers And Losers

On the Nifty index, JSW Steel, Cipla, NTPC, and Tech Mahindra emerged as top performers. In contrast, Grasim Industries, Shriram Finance, Asian Paints, Larsen & Toubro, and Titan Company weighed on the index. Meanwhile, the BSE Midcap and Smallcap indices were up 0.3% each, reflecting positive sentiment in the broader market.

Market Outlook: Consolidation With Upward Bias

Market experts suggest that equities may remain within a consolidation phase, albeit with a slight bullish tilt. Analysts are watching the Nifty 25,100 level closely as a potential breakout point. However, such a move would require sustained institutional buying and favorable global developments.

“In the near-term the market will respond to news regarding the trade negotiations. If there is a clear agreement the market will respond positively and there is a high probability of Nifty breaking above 25100 and remaining above this level,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

He added that while liquidity may support modest gains, a robust rally will depend on an improvement in corporate earnings, which so far show limited signs of a strong recovery.

Institutional Activity And Global Cues

Foreign Institutional Investors (FIIs) remained net buyers for the third straight session, purchasing Rs 2,301 crore worth of equities on June 10. Domestic Institutional Investors (DIIs) continued their buying streak for a 16th consecutive session, with Rs 1,113 crore in net investments. This sustained institutional support is helping cushion the market amid global uncertainties.

On the international front, US stocks ended higher on Tuesday, with the S&P 500 rising 0.6 per cent, coming within 1.7 per cent of its all-time high. Meanwhile, reports surfaced that US Treasury Secretary Scott Bessent may be in the running to succeed Federal Reserve Chair Jerome Powell, adding another dimension to investor sentiment.