Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday started trading on a positive note. As of 10:09 AM, the BSE Sensex climbed 85 points to trade at 79,580.79, while the NSE Nifty50 inched up nearly 40 points to 24,181. The indices were backed by value buying at lower levels and consistent investment seen from domestic investors, along with a rally in the US markets.
Stock update
On the 30-share Sensex platform, Bharti Airtel, ICICI Bank, Sun Pharma, HCL Tech, and Axis Bank emerged gainers. On the flip side, Asian Paints, NTPC, HDFC Bank, Tata Motors, and JSW Steel stood among the laggards.
In the broader markets, the Nifty Next 50 slipped 0.49 per cent in the morning hours. Meanwhile, the Nifty Smallcap 250 dominated in green and climbed 0.50 per cent in the day.
On the Nifty50 index, the shares of Britannia slumped more than 2 per cent and traded in red in the morning hours.
Sectoral update
Amongst the sectors, the Nifty Realty index rallied ahead and gained 1.58 per cent in the morning hours. Meanwhile, the FMCG index slipped 0.52 per cent in the session.
Foreign Institutional Investors (FIIs) dumped Indian equities worth Rs 2,306.88 crore on Monday, while the domestic institutional investors (DIIs) purchased shares worth Rs 2,026.63 crore according to exchange data.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, explained, "Two strong factors have been at play in this consolidating market. One, the relentless selling by FIIs has been favouring the bears and pulling the market down. Two, the sustained buying by DIIs has been supporting the market preventing a crash in the market. How the market will trend in the coming days will depend on the relative strength of these two factors."
In the last trading session on Monday, the indices ended trading on a nearly flat note. The Sensex closed the session 10 points lower under the 79,500 mark, while the Nifty slipped almost 7 points to settle at 24,141.30.