Benchmark indices BSE Sensex and NSE Nifty opened higher on Tuesday.
On Tuesday, major stock market indicators traded in an upward trajectory, following the positive performance of Asian counterparts. The momentum was fueled by prominent players like Reliance Industries and banking shares.
BSE Sensex opened 0.13 per cent or 99 points higher at 75,489.42 level, while NSE Nifty50 opened 0.26 per cent or 60 points higher at 22,992.30 levels.
Read More: Ztech India IPO To Open On May 29, Check Price Band, Lot Size, GMP And Other Details
On the BSE, Wipro, JSW Steel were the top gainers while Maruti, Tech Mahindra were among the major laggards.
Similarly, on the NSE, Hindalco, Shriram Finance were the top gainers while BPCL, Britannia were among the top losers.
In the broader markets, Nifty Midcap rose 0.35 per cent while SmallCap was trading 0.24 per cent higher.
Sectorally, the Nifty Metal led with nearly 1 per cent gains, followed by Consumer Durables (up 0.40 per cent).
Read More: Stocks To Watch: LIC, IRCTC, Amara Raja, NALCO, NBCC, ABFRL, Adani Energy, and Others
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
As we approach the election results a bit of nervousness is visible in the market. The sharp correction in Nifty in the afternoon yesterday indicates this nervousness. This uncertainty-led nervousness is likely to continue.
A high possibility is the market getting a clue of the election results earlier than June 4th. This can happen at any time and can trigger a big move in the market.
Read More: LIC Q4 Net Profit Rises 2% to Rs 13,763 Crore; Declares Total Dividend of Rs 10 Per Share for FY24
Global Cues
Asian shares exhibited a mixed tone on Tuesday following a previous session rally, with increasing expectations of a European rate cut boosting risk appetite. Investors awaited key inflation data, which was anticipated to provide further market direction.
South Korea’s Kospi edged up by 0.12 per cent, while the small-cap Kosdaq was up 0.35 per cent. Meanwhile, Australia’s S&P/ASX 200 rose by 0.15 per cent.
Futures for Hong Kong’s Hang Seng index were trading 0.40 per cent higher at 18,902 levels.
