Mumbai, Oct 15 (NationPress) The Indian stock market commenced the day on a positive trajectory on Wednesday, drawing inspiration from favorable global trends.

The Sensex increased by 243 points, equivalent to 0.30 percent, reaching 82,273, while the Nifty advanced by 79 points, or 0.31 percent, to open at 25,225.

Experts commented on the Nifty’s technical perspective, noting that while the 20-day SMA limited the drop yesterday, they lean towards the bearish engulfing pattern, indicating a prevailing bearish sentiment.

“We are prepared to change our stance if the Nifty exceeds 25,230. However, we will wait for it to break past 25,330 before considering directional upsides,” they remarked.

Buying interest was evident across various sectors, with major players like Bajaj Finserv, Bajaj Finance, NTPC, L&T, Power Grid, BEL, Bharti Airtel, Trent, and Asian Paints leading the charge, rising by up to 1.2 percent in early trading.

Conversely, a few stocks such as Tech Mahindra, Axis Bank, Infosys, and Titan Company faced some pressure, declining by as much as 1.2 percent.

In the wider market, the Nifty MidCap index saw a rise of 0.38 percent, while the Nifty SmallCap index advanced by 0.20 percent, suggesting a favorable trend beyond the main indices.

Sectoral indices reflected a positive atmosphere too, with the Nifty IT and Financial Services both climbing by 0.6 percent, and the PSU Bank and Realty indices also trading higher.

Analysts indicated that investors are likely to monitor global market conditions, crude oil prices, and institutional investments for further guidance.

“Given the current environment of increased volatility and mixed signals, traders should adopt a cautious 'buy-on-dips' strategy, especially when using leverage,” experts advised.

“It’s prudent to book partial profits during upswings and maintain strict trailing stop-losses to mitigate risks. Fresh long positions should only be considered if the Nifty sustains above 25,300,” they concluded.