Sensex Set for Bullish Open on May 6: Tech, Banking Stocks in Focus Amid Global Optimism

Mumbai, May 6, 2025 — The Indian stock market is poised for a positive start today, with the Sensex likely to open 100–150 points higher, supported by strong global cues and early gains in GIFT Nifty Futures, which rose 0.15%.

Key Market Opening Highlights:

Expected Sensex Open: 79,200–79,300 range

Previous Close: 79,070.80

Support Levels: 78,800 / 78,650

Resistance Zones: 79,420 / 79,600

Market Bias: Bullish, but with cautious optimism

What’s Driving the Market?

Global sentiment is upbeat after a 1.5% rally in the Nasdaq, lifting Indian IT giants like Infosys, TCS, and Wipro. Banking stocks, including HDFC Bank, SBI, and ICICI Bank, are also expected to stay firm.

In the auto and industrial sectors, stocks like M&M and L&T could extend gains amid strong domestic data. Metals and oil shares, however, may see mixed action due to commodity fluctuations.

Broader Market Sentiment

Foreign Institutional Investors (FIIs) continue to show strong buying interest

Stable Rupee could support IT and pharma stocks

US Futures and commodity trends may cause intraday volatility

Geopolitical Watch

Despite a cautious undertone due to ongoing India-Pakistan tensions, overall market momentum remains positive. Traders will also monitor upcoming RBI policy signals and corporate earnings commentary for further direction.

The Bigger Picture

With Nikkei 225 and KOSPI shut today, Indian equities have a window to lead Asia's narrative. A sustained move above 79,200 could drive the Sensex toward the 79,500–79,700 zone, potentially testing new highs.

However, traders are advised to stay alert for any signs of exhaustion or global pullbacks that could trigger profit-booking near resistance zones.