Indian equity indices opened Tuesday’s trading session on a subdued note with a positive bias. The NSE Nifty 50 opened 0.07% higher at 24,894. The BSE Sensex opened 76 points higher at 81,350.
However, Bank Nifty opened 94 points or 0.17% lower at 55,640. In line with the benchmarks, the small and midcap stocks opened on a muted note. The Nifty Midcap fell 7 points to 57,106.
“The White House talks indicate that there is a “reasonable chance of ending the war”. And, if this happens, the secondary tariff on India for buying oil from Russia would become irrelevant. This may turn out to be a positive from the market perspective. But it would be premature to expect positive responses from the Trump administration since the India-US relations are strained, and India has been making tactical initiatives to improve relations with China, even while reinforcing the already strong relations with Russia,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Power Grid Corp, Apollo Hospitals, JSW Steel, Cipla, and Adani Ports and SEZ. On the flip side, the key laggards in the Nifty 50 pack included Adani Enterprises, ITC, Zomato (Eternal), HDFC Life Insurance, and HCL Technologies.
Major movers on Tuesday
The stocks that remained under pressure included Reliance Industries, Bharti Airtel, NTPC, Infosys, and Jio Financial Services, which were the major movers in the morning trade.
Global markets
Asia-Pacific markets traded lower on Tuesday, tracking overnight US markets before the US Federal Reserve meeting. The future contracts tied to the key US indices were little changed after a quiet beginning to a critical week with key speeches from Federal Reserve officials and retail earnings. The US benchmarks closed the session on Monday on a flat note.