The Indian stock market opened in the green on Tuesday, continuing a strong performance seen in the previous two trading sessions. Early trade showed buying activity in the real estate sector, further fueling the market’s upward movement.
As of 9:53 am, the Sensex was trading at 80,203.9, up by 94.14 points or 0.12 percent. The Nifty also saw gains, rising by 31.20 points or 0.13 percent to reach 24,253.10.
Market Outlook: Concerns Over Income Persist
Despite the positive start, market experts caution that the upward momentum may not continue beyond certain levels due to persistent concerns about income growth. Analysts suggested that after two consecutive days of gains, the market’s rise might face challenges in sustaining itself.
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In terms of global impact, experts noted that Trump’s selection of Scott Bessent as Treasury Secretary is seen as a positive for the markets, particularly from a fiscal conservative standpoint. This move could potentially lower U.S. bond yields, which would benefit emerging markets like India.
Positive Trend on the National Stock Exchange
The market sentiment remained largely positive with a majority of stocks trading in the green. On the National Stock Exchange (NSE), 1,572 stocks were in positive territory, while 694 stocks were in the red.
The Nifty Bank index rose by 80.70 points or 0.15 percent, reaching 52,288.20. The Nifty Midcap 100 index climbed by 330.80 points or 0.59 percent to 56,231.35, while the Nifty Smallcap 100 index gained 119.70 points or 0.66 percent, reaching 18,235.55.
Sectoral Performance: Infosys and Tata Steel Lead Gainers
In the Sensex pack, several stocks made notable gains, with Infosys, Tata Steel, Tech Mahindra, Asian Paints, JSW Steel, ICICI Bank, HCL Tech, Bajaj Finance, and Tata Motors emerging as the top gainers. On the other hand, UltraTech Cement, L&T, Sun Pharma, Hindustan Unilever, and NTPC were among the biggest losers.
Mixed Trends in Asian Markets
Asian markets showed mixed trends on Tuesday. While markets in Jakarta, Seoul, and Tokyo were trading in the red, Hong Kong, Shanghai, and Bangkok saw positive movement. U.S. stock markets had closed in the green in the previous trading session, further contributing to global optimism.
Foreign and Domestic Investment Activity
Foreign institutional investors (FIIs) were active buyers, purchasing equities worth Rs 9,947 crore on November 25. Meanwhile, domestic institutional investors (DIIs) sold equities worth Rs 6,907 crore on the same day.
Technical Insights: Key Levels to Watch
According to Akshay Chinchalkar, Head of Research at Axis Securities, Nifty’s 1.3 percent rise on Monday marked its second consecutive gain of more than one percentage point, a trend reminiscent of last December. However, he noted that the rally had created a “spinning top” candle on the charts, signaling equilibrium between bullish and bearish forces. He emphasized that 23,956 would be a critical support level for Nifty, and a daily close below that mark could re-ignite bearish sentiment.
As the market progresses, investors will be closely watching key support and resistance levels to gauge the sustainability of the ongoing rally.
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