Sensex, Nifty open higher on US inflation relief, global tech optimism

Market Performance - Benchmark indices opened positively, with the Sensex rising 468.44 points (0.55%) to 84,950.25 and the Nifty gaining 133.90 points (0.52%) to 25,949.45, driven by favorable global cues following lower-than-expected US inflation data [1] - The Sensex closed at 84,481.81 and the Nifty at 25,815.55 in the previous session, indicating a continuation of gains as both indices opened higher at 84,756.79 and 25,911.50 respectively [2] Global Market Influence - Global markets showed a positive bias, led by gains in US equities after the November consumer price inflation data came in at 2.7%, lower than anticipated, which bolstered expectations for further interest rate cuts by the US Federal Reserve [3] - The Nasdaq surged 1.38%, while the S&P 500 and Dow Jones increased by 0.79% and 0.14% respectively, reflecting a shift towards a risk-on environment [3] Sector Performance - Among the top gainers on the Nifty 50, Max Healthcare Institute led with a 1.91% increase to ₹1,068.50, followed by Tata Motors Passenger Vehicles up 1.87% to ₹352.25, and Bharat Electronics gaining 1.81% to ₹390.40 [4] - On the losing side, Shriram Finance declined by 1.20% to ₹859, while HCL Technologies fell 0.34% to ₹1,655.70 [5] Institutional Activity - Foreign Institutional Investors (FIIs) continued buying for a second consecutive session, purchasing equities worth nearly ₹600 crore, while Domestic Institutional Investors showed strong buying interest with inflows of ₹2,700 crore [6] Technical Analysis - The Nifty 50 is in a consolidation phase, trading within the 25,700–25,900 range, with immediate resistance at 25,900–26,000 and key supports at 25,700 and 25,600 [7] - The Indian rupee appreciated by 14 paise to settle at 90.24 against the US dollar, marking a second consecutive day of gains [7]