Stock Market Today: Sensex and Nifty opened strong on Tuesday, supported by a global market rally and fresh foreign fund inflows. By 11:35 AM, the BSE Sensex rose 198 points, reaching 81,758, while the NSE Nifty50 gained 49 points to trade at 24,986.
Stock Update:
On the Sensex platform, stocks like PowerGrid, Infosys, Axis Bank, NTPC, HCLTech, and Nestle led the gains. Meanwhile, Bajaj twins, M&M, HUL, SBI, and ICICI Bank were among the early laggards.
In the broader markets, the BSE Midcap index advanced by 0.5%, while the Smallcap index posted a 1% rise.
Sectoral Performance:
Sector-wise, IT, Pharma, and Health stocks were trading positively, contributing to the overall market strength.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, remarked, “With a rebound on Wall Street, robust net buying by FIIs and DIIs, and cooling oil prices, bullish sentiment is driving traders to pursue bargains.”
Global Market Overview:
In Asia, markets in Seoul, Tokyo, and Hong Kong traded higher, while Shanghai was slightly down. Hong Kong’s Hang Seng index futures rose to 17,216, surpassing the previous close of 17,196.96. US markets closed significantly higher on Monday, adding to the positive global momentum.
Foreign Fund Activity:
Foreign Institutional Investors (FIIs) bought equities worth ₹1,176.55 crore on Monday, while Domestic Institutional Investors (DIIs) purchased shares worth ₹1,757.02 crore, further fueling the market rally.
Oil Price Impact:
Global oil benchmark Brent crude saw a slight dip of 0.08%, trading at $71.78 per barrel. The decline in oil prices provided additional support to the market, particularly for oil-importing economies like India.
With the combined effects of global market optimism, foreign fund inflows, and softening oil prices, the Indian stock market is expected to continue its positive trajectory in the near term. Investors are closely monitoring international trends and sectoral performances to capitalize on opportunities.
