Indian equities, which ended positively on Tuesday (Feb 03), belled today’s session on a higher note tracking global market trends and on expectations of an US economic stimulus plan.

The 30-share index, BSE Sensex opened after gaining 76.90 points, at 9,226.20.

Heavy buying interest has emerged in the majority of segments with metal, banking and capital goods leading the gains.

Asian stocks also heaved up as the region’s auto manufacturers strengthened their market share in the US and memory-chip prices came up.

After a few minutes of trading, the 30-share index Sensex was at 9,279.84, 130.54 points higher than its last closure.

Meanwhile, the S&P CNX Nifty index of the National Stock Exchange (NSE) stood at 2,813.20, up 29.30 points as against its previous close of 2,783.9.

Technical analyst & derivative strategist, V K Doshi said, “The Nifty is currently in the trading zone of 2750-2850. The bias would remain on the upside till 2,750 is not breached.”

The BSE midcap index was up 0.66%, while the BSE smallcap index was 0.60 percent higher than its previous close.

Technical Analyst, Vishwas Agarwal said that if 9,350 level is not sustained on the BSE, then the markets would be weak.

Maintaining this level is really crucial for further upmove. Market is holding present position with the help of Reliance Industries and two or three other stocks, but other frontline stocks are too weak, and this shows that if the strong stocks start declining then the whole markets will see a heavy selling pressure.

Mr. Agarwal said, “As there are no big events for any surprise jump in the market this February. Possibly March, April and May, will be active months to make money. February month will pass with saturation or dip in stock.”