Mumbai, July 1
The Indian benchmark indices opened higher on Tuesday amid positive global cues, as buying was seen in the auto and IT sectors in the early trade.
At around 9.26 am, Sensex was trading 188.66 points or 0.23 per cent up at 83,795.12 while the Nifty added 54.80 points or 0.21 per cent at 25,571.85
According to analysts, with the US market setting new record highs, the global equity market mood is positive and West Asian geopolitics is no longer a threat to global economy.
"Going forward, the market is likely to be influenced by developments on the tariff front. An India-US trade deal will be positive and if it does not happen, the market is likely to be impacted," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Nifty Bank was up 51.95 points or 0.09 per cent at 57,364.70 in early trade. The Nifty Midcap 100 index was trading at 59,887.65 after adding 146.45 points or 0.25 per cent. Nifty Smallcap 100 index was at 19,127.60 after climbing 52.50 points or 0.28 per cent.
According to experts, Nifty's short-term trend remains positive, as it is still positioned above its nearest moving average support, the 5-day EMA.