Markets Open Higher, Sensex Inches Closer To 82K, Nifty Crosses 25,100

On the 30-share Sensex, Tata Steel, L&T, Bajaj Finance, Infosys, and ITC emerged among the gainers. Meanwhile, the laggards included Trent, Axis Bank, Tata Motors, Sun Pharma, and Kotak Mahindra Bank.

In the broader markets, the Nifty Smallcap50 inched up 0.21 per cent. Sectorally, the Midsmall IT & Telecom index soared 0.30 per cent. 

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Indian markets continued to rally ahead on Tuesday. The BSE Sensex started trading above 81,900, jumping more than 100 points, while the NSE Nifty50 crossed 25,100 after climbing close to 50 points.

On the 30-share Sensex, Tata Steel, L&T, Bajaj Finance, Infosys, and ITC emerged among the gainers. Meanwhile, the laggards included Trent, Axis Bank, Tata Motors, Sun Pharma, and Kotak Mahindra Bank.

In the broader markets, the Nifty Smallcap50 inched up 0.21 per cent. Sectorally, the Midsmall IT & Telecom index soared 0.30 per cent. 

Global Markets

Asian stocks traded on a mixed note on Tuesday, with Japan’s Nikkei 225 moving higher while markets in China and South Korea remained closed for a public holiday. In the United States, key indices ended largely in the green, with record highs on the Nasdaq and S&P 500 continuing to buoy investor sentiment.

According to Prashanth Tapse, Senior Vice President (Research) at Mehta Equities Ltd, “Liquidity tailwinds, global market resilience, and a dovish stance from central banks are fuelling the rally.” He added that the upbeat global cues have helped sustain optimism across equity markets.

Oil Prices

Meanwhile, Brent crude, the global oil benchmark, rose 0.31 per cent to $65.67 a barrel. On the domestic front, data from exchanges showed that Foreign Institutional Investors (FIIs) offloaded equities worth Rs 313.77 crore on Monday, while Domestic Institutional Investors (DIIs) emerged strong buyers, picking up shares worth Rs 5,036.39 crore.

Analysts believe that the ongoing mild rally could gather more strength as foreign selling slows and domestic inflows remain robust. “FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations, narrowing the valuation gap between India and other markets. Yesterday’s FII selling figure of Rs 313 crore was completely offset by the massive DII buying of Rs 5,036 crore,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Notably, in the previous session on Monday, the benchmarks extended their winning streak for a third consecutive session, supported by value buying in IT and financial counters. The benchmark Sensex surged 583 points, while the Nifty reclaimed the psychologically important 25,000 level.

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