Indian equity indices opened Tuesday’s trading session on a lower note. The NSE Nifty 50 opened 84 points or 0.32% lower at 25,944. The BSE Sensex opened 256 points or 0.30% lower at 84,957.
The Bank Nifty opened 175 points or 0.29% lower at 59,287. Also, the small and mid-cap stocks opened in the red. The Nifty Midcap opened 155 points or 0.26% lower at 60,058.
“The market is moving into a consolidation mode in the near-term. Since sustained FII selling is easily absorbed by DII buying and economic fundamentals are indicating significant improvement, the market will find support in weakness. The rupee is also likely to stabilise since the November trade deficit has come down to $24.53 billion from $41.64 billion in October. This will take away some pressure on the FIIs to sell, anticipating further depreciation, 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 Bharti Airtel, Apollo Hospitals, Asian Paints, Tata Consumer Products, and Grasim Industries. On the flip side, the key laggards in the Nifty 50 pack included Eternal (Zomato), Axis Bank, HCL Technologies, Infosys, and Jio Financial Services.
Major movers on Tuesday
The stocks that were the major movers in the opening trade included Bharti Airtel, Apollo Hospitals, Grasim Industries, Asian Paints, and Kotak Mahindra Bank, which were the major movers in the morning trade.
