Indian Stock Market Opens Positive with Sectoral Gains
Mumbai: The Indian stock market began the trading session on a positive note on Tuesday, with most sectoral indices showing gains, except for the auto and metal sectors. The BSE Sensex surged to 82,189.42, reflecting an increase of 216.37 points, or 0.26 percent, in early trade. Concurrently, the NSE Nifty was trading at 25,189.25, up by 61.30 points, or 0.24 percent.
Market sentiment remained optimistic, as evidenced by trading activity on the exchanges. On the NSE, 1,323 stocks were in the green, while 721 stocks faced declines. Similarly, on the BSE, 1,689 stocks were advancing against 852 that were falling.
The Nifty Bank index rose to 51,976.60, marking an increase of 159.70 points, or 0.31 percent. The Nifty Midcap index also saw a slight gain, trading at 51,976.60, up by 79.00 points, or 0.13 percent. Additionally, the Nifty 100 index reached 26,266.50, gaining 68.60 points, or 0.26 percent.
Top gainers in the Sensex pack included Infosys, HCL Tech, Bharti Airtel, and Asian Paints, while Nestle, Tata Steel, M&M, and JSW were among the top losers. In the Nifty pack, BPCL, Infosys, Bharti Airtel, and HCL Tech emerged as the leading gainers, whereas ONGC, Nestle, and Tata Steel saw declines.
Market analysts suggest that as the market approaches the Q2 results season, there are high expectations for strong performances, particularly from the IT and banking sectors. “HCL Tech’s robust results reinforce positive expectations, and leading private banks are also likely to report favorable numbers. While IT stocks face limited valuation comfort, banking stocks present a more attractive valuation, suggesting potential for upward movement,” analysts noted.
In broader market trends, Asian markets are experiencing a positive shift, with Tokyo, Bangkok, Jakarta, and Seoul trading in the green, while Hong Kong remains an exception. Notably, US stock markets closed on a high note in the previous trading session, contributing to the positive sentiment across global markets.
