The market gave up its early gains in morning trade, with the Sensex marginally up by 57.42 points to 80,275.79, up 0.07%, while the Nifty up just 5.35 points to 24,333.85, a gain of 0.02%.
After previous day strong finish, the Indian stock markets carried forward the optimism into Tuesday morning. The Sensex opened the day at 80,466.45, up 0.31%. Similarly, the Nifty 50 started at 24,413.05, gaining 0.35%.
The Nifty Bank, a sectoral barometer for banking stocks, also opened higher at 55,767.15, rising 0.60%.
“The Sensex did a Vaibhav Suryavanshi yesterday with a 1005 point spectacular rally amidst the heightened tensions in the border. What message is the market sending? The market has discounted, as everyone else has, that there will be an appropriate response from India to the terrorist attacks, but the market hopes that tensions will not lead to a war which can have very bad consequences,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
“The strong pillar of support for the market now is the sustained FII buying for nine days in a row for a cumulative amount of Rs 34940 crores. India’s potential relative outperformance compared to other large economies can support the FII inflows and impart resilience to the market,” he added.
Here’s a quick look at the five key highlights to track throughout the day.
Early Leaders: Who’s gaining ground?
Among the early gainers on the Sensex 30 were IndusInd Bank up 2%, Tata Motors, SBI, M&M, and L&T.
Opening Laggards: Who’s under pressure?
Not everything was shining bright -some stocks opened in the red. These included Sun Pharma, Bajaj Finance, Asian Paint, Nestle India, and Infosys.
Rupee opens slightly weaker against dollar
The Indian rupee started Tuesday’s session on a softer note, opening at 85.08 per dollar compared to the previous close of 85.03.
Global Markets set a mixed tone
Asian stocks offered a slow start. South Korea’s Kospi dipped 0.13%, while its tech-heavy Kosdaq index rose 0.43%. The Australian ASX 200 edged up 0.38%. Japanese markets were closed for a public holiday.
On Wall Street, the S&P 500 and Dow Jones edged higher on Monday, while the Nasdaq slipped slightly due to weakness in tech shares.
Big earnings ahead
Investors are keeping a sharp eye on today’s earnings calendar. Major companies like Bajaj Finance, Bajaj Finserv, BPCL, Ambuja Cements, IndiaMART, and Capital Small Finance Bank are set to report their numbers today.