Stock Market Today: Sensex Rises Over 240 Points, Nifty Around 22,600

Stock Market Today: Asian markets followed Wall Street’s overnight losses, weighed down by renewed concerns over US trade policies

Stock Market Today: The broader market displayed a mixed performance. The BSE Midcap index declined by 0.3 per cent, while the BSE Smallcap index remained flat

Source : PTI

Indian benchmark indices, Sensex and Nifty, started on a cautious note on Tuesday following a five-day losing streak, with ongoing foreign investor sell-offs and weak global cues continuing to dampen sentiment.

At 10 am, the Sensex gained 248.84 points, or 0.33 per cent, to reach 74,703.25, while the Nifty rose 45.60 points, or 0.20 per cent, to 22,598.95. A total of 2,121 shares advanced, 897 declined, and 134 remained unchanged.

The benchmarks have now fallen nearly 14 per cent from their record highs in late September and are on track for a fifth consecutive month of losses, marking the longest losing streak since 1996.

Asian markets followed Wall Street’s overnight losses, weighed down by renewed concerns over US trade policies. President Donald Trump's remarks that tariffs on Canada and Mexico are "on time and on schedule," coupled with his move to limit Chinese investments in key sectors, further undermined investor confidence.

Broader Market

The broader market displayed a mixed performance. The BSE Midcap index declined by 0.3 per cent, while the BSE Smallcap index remained flat.

Expert Comment

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The market is oversold, largecap valuations are fair and short positions in the market are high. This warrants a bounce back particularly if a short covering happens. But the real issue is the relentless FII selling in the cash market which has touched 43200 crores in February so far. Since cash market selling and shorting in the derivatives market have been profitable for FIIs, they might continue to sell and try to profit from the negative momentum in the market. It is the sustained DII buying that is preventing the market from a capitulation.”

“Trump tariff uncertainty will continue to weigh on markets. Domestically we need indications of a growth and earnings recovery in India. Investors should stay with quality stocks which will bounce back when the inevitable recovery happens. Patience is the key,” he added.