The Indian stock market opened in the green for the second consecutive day on Tuesday. The Sensex opened at 84,625 and the Nifty at 25,939. Mild gains and fluctuations were observed in early trade. On Monday, the market had closed with strength, with the Sensex rising by 567 points and the Nifty by 171 points.
Stock Market Today: On Tuesday, the second trading day of the week, the Indian stock market opened in the green for the second consecutive day. The Sensex opened today at 84,625.71 points and the Nifty at 25,939.95 points. Despite marginal gains in the early session, the market continues to experience fluctuations. On Monday, the Sensex closed up 566 points at 84,778, and the Nifty climbed 171 points to close at 25,966. During this period, shares of Bharti Airtel, Reliance Industries, and SBI showed strength, while Infosys and Bajaj Finance saw declines.
Market Opens in the Green
This morning, the Bombay Stock Exchange's (BSE) 30-share Sensex opened at 84,625.71 points. On Monday, it had closed at 84,778.84 points. Meanwhile, the National Stock Exchange's (NSE) Nifty opened at 25,939.95 points, whereas it had closed at the 25,966.05 level on the previous trading day. During the initial hours, the market witnessed slight volatility, with the Sensex and Nifty oscillating between positive (green) and negative (red) territory.
Market experts state that the activity of foreign investors, fluctuations in the dollar index, and the strength in crude oil prices have impacted early trade.
Which Sectors Showed Strength in Early Trade?
In morning trade, buying was observed in banking and metal sector stocks. Shares of public sector banks surged, while defense and media-related companies faced pressure.
The Nifty Bank index registered a slight gain. Meanwhile, Nifty IT and Nifty Auto sector stocks were also trading with marginal increases. On the other hand, shares in the Pharma and FMCG sectors saw activity within a limited range.
Market Showed Strength on Monday
On Monday, the first trading day of the week, the Indian stock market witnessed a significant rally. The Sensex closed up by 566.96 points, or 0.67 percent, at 84,778.84 points. During trading, it surged by 720.2 points, reaching an all-time high of 84,932.08.
Similarly, the Nifty also closed up by 170.90 points, or 0.66 percent, at the 25,966.05 level. On this day, the highest gains in the market were observed in telecom, banking, and metal sector stocks.
Which Stocks Gained?
On Monday, among Sensex companies, shares of Bharti Airtel, Reliance Industries, Tata Steel, State Bank of India, and HDFC Bank registered gains. These companies played a significant role in pushing the market higher.
Conversely, prominent stocks like Kotak Mahindra Bank, Bharat Electronics, Infosys, and Bajaj Finance witnessed declines. Investors engaged in profit-booking in these shares, leading to their weaker performance.
Pressure in Midcap and Smallcap
However, midcap and smallcap shares remained weak on Monday. The Nifty Midcap index fell by approximately 540 points, while the Nifty Smallcap registered a decline of over 150 points. Investors favored shares of large-cap companies, while selling pressure was observed in small and medium-sized stocks.
Market analysts attribute this to investors engaging in profit-booking in midcap and smallcap shares after their significant rally in recent weeks, which put pressure on these indices.
