Indian equity indices opened Tuesday’s trading session on a flat note following mixed global trends. The NSE Nifty 50 opened flat to trade near 25,500, while the BSE Sensex opened 80 points higher around 83,700.
In line with the overall markets, Bank Nifty opened flat at around 57,380. However, the small and midcap stocks outshone; the Nifty Midcap 100 opened 140 points or 0.23% higher at 59,880.
“With the mother market US setting new record highs, the global equity market mood is positive. West Asian geopolitics is no longer a threat to the global economy or markets. Strong macroeconomic factors of the Indian economy can facilitate increasing fund flows into Indian equity. Sustained weakness in the dollar ( dollar index now at 96.81) means the possibility of heavy selling by FIIs is low. They might even continue to buy despite high valuations. Going forward, the market is likely to be influenced by developments on the tariff front. An India-US trade deal will be positive, and if it does not happen, the market is likely to be impacted,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Here are key highlights from the early session-
Top performers leading the charge
Among the top gainers on the Nifty 50 were Apollo Hospitals, Asian Paints, Bharat Electronics, Adani Enterprises, and IndusInd Bank. The top movers in the Nifty 50 were HDFC Bank, Reliance Industries, Bharti Airtel, Apollo Hospitals, and Asian Paints as soon as markets opened.
Stocks in the red
The stocks that remained under pressure included Trent, Axis Bank, Shriram Finance, Tata Consumer Products, and Cipla, which were the laggards in the morning trade.
Lower crude oil prices
The crude oil prices were trading on a lower note on Tuesday morning. WTI crude prices were trading at $64.89, down by 0.34%, while Brent crude prices were trading at $66.51, down by 0.35%.