Mumbai, Jan 23 (IANS) The Indian stock market opened higher on Friday, extending gains for the second consecutive trading session while tracking positive global cues.
As of 9.30 am, the Sensex added 132 points, or 0.16 per cent to reach 82,440 and the Nifty advanced 52 points, or 0.21 per cent to 25,342.
Main broad-cap indices performed in line with benchmark indices, as Nifty Midcap 100 added 0.32 per cent, and the Nifty Smallcap 100 advanced 0.24 per cent.
All sectoral indices were trading in the green except Nifty media, PSU bank, realty as well as oil and gas.The top gainer was Nifty metal, up over 0.9 per cent. Nifty Media was the notable loser, down 0.74 per cent.
Immediate support for Nifty is placed at 25,100-25,150 zone, while key support is seen at 25,400–25,450 zone, market watchers said.
Asia-Pacific markets rose in the morning session, tracking Wall Street gains as geopolitical concerns moderated. Investor optimism rose as the Bank of Japan kept interest rates steady.
The pattern of sustained FII selling and DII buying, which dominated the market trend in 2025, have continued in 2026 so far. Investors look for a change in this pattern from cues in Budget 2026.
The FII's stance on India depends on growth in India’s corporate earnings as they can invest in other markets with cheaper valuations and better earnings, analysts said.
Since earnings growth may take some time, FII selling is expected to continue, pre-empting any healthy rally. FIIs are adding to the short positions on every rally triggered by some positive news, they added.
In Asian markets, China's Shanghai index added 0.27 per cent, and Shenzhen gained 0.24 per cent, Japan's Nikkei added 0.5 per cent, while Hong Kong's Hang Seng Index advanced 0.29 per cent. South Korea's Kospi added 0.92 per cent.
The US markets ended in the green overnight as Nasdaq advanced 0.91 per cent. The S&P 500 gained 0.55 per cent, and the Dow added 0.63 per cent.
On January 22, foreign institutional investors (FIIs) sold net equities worth Rs 2,550 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 4,223 crore.
—IANS
aar/na
