Indian equity markets opened Tuesday's session on a mixed note. The BSE Sensex posted a b gain in early trade, while the NSE Nifty 50 remained under pressure, indicating investor caution alongside selective buying across sectors.
The BSE Sensex opened at 79,132.97, up 493.94 points or 0.63%, reflecting buying interest in select heavyweight stocks.
Market participants remained focused on mixed global cues, corporate earnings, foreign investor activity and upcoming economic developments, leading investors to adopt a selective investment approach. While several Sensex constituents attracted buying interest, a majority of Nifty 50 stocks opened in negative territory.
In early trading, the Sensex's advance suggested continued investor confidence in select large-cap companies. The Indian equity market had also ended the previous trading session on a ber note, with the Sensex closing higher on Monday.
The Nifty 50, however, witnessed a relatively weaker start, with most of its constituent stocks opening lower. Only a limited number of the index's 50 constituents traded in positive territory, while the majority remained under selling pressure, indicating that buying interest was concentrated in select companies rather than across the broader market.
According to analysts, the divergence between the benchmark indices reflected strength in a few large-cap companies supporting the Sensex, while investor sentiment across the broader market remained cautious.
Financial services, banking and industrial stocks recorded gains in early trading. Shares of Bajaj Finance, Power Grid, Mahindra & Mahindra, Asian Paints, Trent and Bajaj Finserv opened higher. Bharti Airtel, Tata Steel, Kotak Mahindra Bank, Bharat Electronics Limited (BEL), Adani Ports and HCL Technologies also traded in positive territory.
Within the banking sector, ICICI Bank, Axis Bank, HDFC Bank and State Bank of India (SBI) registered limited but positive gains in early trade.
On the other hand, several information technology and consumer sector stocks traded lower at the open. TCS, Infosys and some other technology stocks remained under pressure. Shares of companies in the consumer goods segment and certain other sectors also posted modest declines in early trading. Market experts said recent gains prompted investors to book profits in select stocks, which was reflected in early trade.
