Sensex up 350 Pts, Nifty Above 22,650; FMCG, Energy Shares in Green

Nifty and Sensex opened on a positive note on March 10 despite concerns over tariffs negotiations and geopolitical developments.

Asian Markets opened in red, with MSCI Asia ex Japan index down by 0.4%. Consumer price index contracted in China, reporting steepest decline in 13 months. S&P and Nasdaq 100 futures dropped persistently by 0.8% and 1% respectively. Dow Jones Industrial Average futures slipped 268 points, or 0.6%.

As of 10:00 am, Sensex jumped by 287.59 points or 0.39% at 74,620.17, and the Nifty was up by 89.75 points or 0.40% at 22,642.25. Close to 1,530 shares advanced, while 1,814 shares declined.

Ajit Mishra, Senior Vice President at Religare Broking said, “The upcoming trading week will be a holiday-shortened one, with market participants closely monitoring global developments in the absence of major domestic events. Key factors to watch include fresh updates on tariff negotiations, geopolitical tensions, and their impact on the movement of the U.S. dollar and crude oil prices.”

He added, “Foreign Institutional Investors (FIIs) have slowed their selling in cash markets, but any shift in their stance will remain a crucial indicator for market direction. On the macroeconomic front, the release of the Index of Industrial Production (IIP) and Consumer Price Index (CPI) inflation data will also be closely tracked.”

FIIs dumped Indian equities worth ₹2,035 crore while domestic institutional investors (DII) were net buyers of shares worth ₹2,320 crore on March 7.

On the broader market front, mid and smallcap indices underperformed. Midcap 100 and smallcap 100 index fell by 0.1% and 0.4% respectively.

Nifty Auto and Realty emerged as the top losers, down by 0.6% in the early trade. Nifty Energy, Infra, Oil and Gas and Metal were the major gainers, surging in the range of 0.4% to 0.8%.

Shares of BEL, Sun Pharma, Bajaj Finance, Bharti Airtel, and Bajaj Finserv were the top gainers on the Nifty, while IndusInd Bank, Trent, M&M, Bajaj Auto, and L&T were the major laggards.