Indian equity markets started the day on a steady note, reflecting a cautious sentiment influenced by mixed signals from global markets.
As of 9:38 AM on Tuesday, the Sensex stood at 81,409, marking a modest gain of 53 points. The Nifty, meanwhile, rose by 24 points to reach 24,860.
The overall market trend displayed a positive bias, with a majority of shares advancing.
On the National Stock Exchange (NSE), 1,488 stocks recorded gains, while 538 saw declines.
Sector-wise, indices for FMCG, realty, media, energy, and commodities posted gains. In contrast, the IT, pharma, and financial services sectors lagged behind, showing losses.
Midcap and smallcap indices outperformed their largecap counterparts.
The Nifty Midcap 100 index climbed to 58,537, up by 175 points or 0.30%, while the Nifty Smallcap 100 index advanced to 19,155, an increase of 112 points or 0.59%.
Notable gainers in the Sensex pack included NTPC, Power Grid, Asian Paints, HUL, Tata Motors, and Tech Mahindra. On the other hand, UltraTech Cement, Bajaj Finserv, Sun Pharma, M&M, and Tata Steel experienced declines.
Market analysts suggest that the ongoing influx of capital into mutual funds and the enthusiastic participation of retail investors are contributing to market resilience.
However, elevated valuations remain a concern, particularly in the broader market segment.
Experts noted, “A positive development is the growing strength of high-quality stocks with robust earnings visibility, driven by institutional buying.”
Global markets presented a mixed picture. Asian indices showed varied performance with Tokyo, Jakarta, Seoul, and Hong Kong advancing, while Bangkok recorded a decline. US markets closed with mixed results, adding to the day’s overall market uncertainty.
Also Read: Vistara Introduces Free 20-Minute Wi-Fi On International Flights; A First For Indian Airlines
Russian President Vladimir Putin also acknowledged the potential contributions of India, China, and Brazil in…
The BJP promises to support small enterprises and merchants while increasing pensions for the elderly,…
On September 2, 2024, the Supreme Court, led by Justices B.R. Gavai and K.V. Vishwanathan,…
The proposed contract includes the largest-ever general wage increase, lower medical costs, increased retirement contributions,…
Uttar Pradesh Chief Minister Yogi Adityanath visited Lokbandhu Shri Rajnarayan Combined Hospital on Sunday to…
The court emphasized that trial courts must consider the socio-economic conditions of the accused when…