Indian equity indices opened Tuesday’s trading session on a subdued note, with a positive bias. The NSE Nifty 50 opened 29 points or 0.12% higher at 25,232. The BSE Sensex opened 65 points or 0.08% higher at 82,225.
The Bank Nifty opened 41 points or 0.07% higher at 55,326. Similarly, the small and midcap stocks opened the day higher. The Nifty Midcap rose 85 points or 0.14% to open at 58,785.
“The major drag on the market since the 2024 September peak is the sustained FII selling, which, in turn, is being triggered by the high valuations in India and attractive valuations elsewhere. FIIs sold equity worth Rs 12,1210 crore in 2024, and this year, so far, FIIs have sold equity for Rs 17,9200 crore through the exchanges. The high valuation differential between India and other markets has enabled the FIIs to move money from India to other markets and profit from it,” 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 Maruti Suzuki, Eicher Motors, Mahindra & Mahindra, Bajaj Auto, and Infosys. On the flip side, the key laggards in the Nifty 50 pack included Adani Enterprises, Adani Ports, Sun Pharma, UltraTech Cement, and Zomato (Eternal).
Major movers on Tuesday
The stocks that were the major movers in the opening trade included Adani Enterprises, Maruti Suzuki, Axis Bank, Bajaj Finance, and Bharti Airtel, which were the major movers in the morning trade.