Indian Stock Market Opens in Green, Realty Sector Leads Gains
Mumbai: The Indian stock market opened in the green on Tuesday, continuing the positive momentum from the past two trading sessions. Early trading saw a rise in the realty sector, contributing to market gains.
At around 9:53 am, the Sensex was trading at 80,203.9, up by 94.14 points or 0.12 percent. The Nifty also gained 31.20 points or 0.13 percent, reaching 24,253.10. Market experts, however, remain cautious, stating that while the rise is encouraging, concerns about income-related issues could limit the extent of the gains in the long term.
In a positive development for emerging markets (EMs), market observers pointed to the selection of Scott Bessent as the US Treasury Secretary by President Trump. Bessent, known for his fiscal conservative stance, is expected to help reduce bond yields in the US, which could benefit EMs like India.
The market trend remained positive as 1,572 stocks on the National Stock Exchange (NSE) were trading in the green, while 694 stocks were in the red. Among sector indices, Nifty Bank rose by 0.15 percent, and Nifty Midcap 100 gained 0.59 percent, while Nifty Smallcap 100 climbed 0.66 percent.
In the Sensex pack, notable gainers included Infosys, Tata Steel, Tech Mahindra, Asian Paints, and ICICI Bank. However, stocks such as UltraTech Cement, L&T, and Sun Pharma saw declines.
Asian markets showed mixed results, with Jakarta, Seoul, and Tokyo trading in the red, while Hong Kong, Shanghai, and Bangkok were in the green. The US stock markets had closed higher on the previous trading day.
Foreign institutional investors (FIIs) were active buyers, purchasing equities worth Rs 9,947 crore on November 25, while domestic institutional investors (DIIs) sold equities worth Rs 6,907 crore.
According to Akshay Chinchalkar, Head of Research at Axis Securities, the Nifty’s 1.3 percent rise on Monday marked its second consecutive gain of over one percent. However, he warned that the critical support level for Nifty is now 23,956, and a daily close below this could embolden market bears.
