Sensex Opens 150 Points Higher; Nifty Nears 25,000 Mark
Indian stock markets opened higher on Tuesday, buoyed by strong performance in IT and metal sectors. The BSE Sensex rose by 150.58 points to reach 82,210.00, while the NSE Nifty50 inched closer to the 25,000 mark, trading at 24,965.90 at 9:25 AM.
Market momentum was driven primarily by a rally in heavyweight stocks like Tata Steel, Infosys, and Tech Mahindra.
Tata Steel emerged as the top gainer on Sensex, rising 2.79%, followed by Infosys (1.34%), Tech Mahindra (1.33%), Tata Consultancy Services (0.90%), and ITC (0.88%). The positive movement in IT and metal counters lifted broader market sentiment.
However, not all stocks mirrored the bullish tone. PowerGrid Corporation led the losers’ pack, dropping 0.81%, followed by HDFC Bank (-0.72%), Reliance Industries (-0.46%), Bajaj Finance (-0.40%), and Titan (-0.37%).
According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, markets may enter a consolidation phase due to high valuations.
“The upside is likely to be capped with institutional selling on rallies. Dips, however, may attract buying interest given the cash reserves with mutual funds,” Vijayakumar noted.
He also flagged concerns over global sentiment, citing the recent credit rating downgrade of the US as a potential source of market volatility. While not an immediate threat, it could trigger uncertainty in the near term.
Analysts suggest a balanced approach, recommending investors to sell during rallies and buy on dips as volatility continues to shape short-term market dynamics.
