Indian stock market opens in green, shopping is happening in realty sector

Mumbai: The Indian stock market opened in the green on Tuesday after two strong trading sessions. Buying was seen in the realty sector in the initial trade. At around 9.53 am, the Sensex was trading at 80,203.9, up 94.14 points or 0.12 per cent, while the Nifty was trading at 24,253.10, up 31.29 points or 0.13 per cent.

Market experts say that this rally is unlikely to continue beyond one level as earnings related concerns remain. He said that in the coming days the market's focus will remain on President Trump.

“The focus in the coming days will be on what President Trump will do. Trump's selection of Scott Besant as Treasury Secretary is a positive for the markets. This could help drive down bond yields in the US, leading to EM will benefit.” The market trend remained positive. On the National Stock Exchange (NSE), 1,572 shares were trading in the green, while 694 shares were trading in the red.

Nifty Bank was at 52,288.20, up 80.70 points or 0.15 per cent. The Nifty Midcap 100 index was trading at 56,231.35 levels after rising 330.80 points or 0.59 per cent. At the same time, Nifty Smallcap 100 index was at 18,235.55 after rising 119.70 points or 0.66 percent. Infosys, Tata Steel, Tech Mahindra, Asian Paints, JSW Steel, ICICI Bank, HCL Tech, Bajaj Finance and Tata Motors were the top gainers in the Sensex pack. Whereas, UltraTech Cement, L&T, Sun Pharma, Hindustan Unilever and NTPC were the top losers.

Talking about Asian markets, the markets of Jakarta, Seoul and Tokyo were trading on the red mark while those of Hong Kong, Shanghai and Bangkok were trading on the green mark. At the same time, the American stock markets closed on the green mark on the previous trading day. Foreign institutional investors (FIIs) bought equities worth Rs 9,947 crore on November 25, while domestic institutional investors sold equities worth Rs 6,907 crore on the same day.

According to Akshay Chinchalkar, head of research at Axis Securities, the Nifty rose 1.3% on Monday, registering a rise of more than one per cent for the second consecutive time, a trend that was also seen last December. He further said “the rally formed a spinning top candle pattern, indicating a bull-bear balance.”