Indian stock markets opened higher on Tuesday, starting the session with a gap-up. The NSE Nifty 50 jumped 124.25 points or 0.53% to 23,485.30, while the BSE Sensex rose 408.61 points or 0.53% to 77,595.35 at the opening bell.

As of 1:27 PM, the Sensex surged 991.74 points or 1.28%, reaching 78,178.48, while the Nifty climbed 286.90 points or 1.23% to 23,647.95.

In the early trading hours, the GIFT Nifty indicated a positive start for Indian stock markets on Tuesday, with the BSE Sensex and NSE Nifty 50 likely to open higher. It was trading 37.50 points or 0.16% up at 23,556.50. On the previous trading session, the markets ended in the red, with the BSE Sensex falling 319 points or 0.41% to close at 77,186, while the NSE Nifty 50 dropped 121 points or 0.52% to settle at 23,361.

In the pre-opening session on February 4, the BSE Sensex was up 318.47 points or 0.41% at 77,505.21, while the NSE Nifty 50 gained 104.45 points or 0.45% to trade at 23,465.50.

Sectoral Indices

In today’s trading session, the Nifty Bank opened at 48,597.50, gaining 386.95 points. The Nifty Midcap 100 also saw a positive start, rising 732.55 points or 1.38% to 53,721.

Similarly, the Nifty Midcap 50 opened 208.80 points higher or 1.41% at 15,037.30, while the Nifty Smallcap 50 climbed 96.35 points to trade at 8,076.35.

“After the global sell off in equity markets yesterday, there are positive signals today. The decision taken by Trump to temporarily freeze the tariffs on Mexico and Canada and start negotiations is a clear indication of President Trump’s strategy: That is, impose tariffs and then negotiate and strike a deal. The same strategy is likely to be tried with China, too. It is important to understand that a full blown trade war will be damaging for the US,too,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Also Read

“The decline in the dollar index to 108 is a positive development. Emboldened by the excellent Budget, investors, especially DIIs, are likely to step up investment, particularly in discretionary consumption segments. Cars, scooters, motorcycles, white goods like air conditioners and washing machines, jewellery, hotels and food delivery businesses are the segments that will benefit from the Budget and, therefore, these are the segments to focus on,” he added.

Top gainers and losers

In the Sensex 30 pack, M&M, Infosys, Tata Motors, Adani Ports, and L&T were the top 5 gainers in early trade. On the other hand, Nestle India, Asian Paints, Bharti Airtel, Hindustan Unilever, and Power Grid were among the top losers.

The top gainers in early trade from the Nifty 50 pack, were BEL, Hindalco, ONGC, M&M, and Infosys. Meanwhile, Power Grid, Britannia, Hindustan Unilever, Asian Paints, and ITC were among the top losers.

Gold prices saw a dip both in India and international markets today, following a pause in the potential trade war. US President Donald Trump announced a 30 day pause on a 25% tariff on imports from Mexico and Canada, easing some market concerns. In India, MCX gold opened flat but quickly dropped to an intraday low of Rs 83,125 per 10 grams, while globally, spot gold fluctuated around $2,819 per ounce.