The Indian stock market opened on a positive note on Tuesday. Sectoral indices, except auto and metal, were trading in the green all through the day.
The BSE Sensex scaled 82,189.42 with an early rise of 216.37 points or 0.26 per cent. Meanwhile, NSE Nifty was trading at 25,189.25 with a gain of 61.30 points or 0.24 per cent.
Positive note for the market trend.
On NSE, 1323 stocks traded in the positive zone and 721 stocks traded in the red.
On BSE, 1689 stocks traded in the green and 852 stocks traded in red in morning trade.
Nifty Bank was up 51,976.60 after registering an increase of 159.70 points or 0.31 per cent. Nifty Midcap index was trading at 51,976.60 level after gaining 79.00 points or 0.13 per cent. Meanwhile, Nifty 100 index was at 26,266.50 after gaining 68.60 points or 0.26 per cent.
Infosys, HCL Tech, Bharti Airtel and Asian Paints were the top gainers in the Sensex pack. Nestle, Tata Steel, M&M and JSW were the top losers.
BPCL, Infosys, Bharti Airtel and HCL Tech feature in the top pack of Nifty while on the other hand, ONGC, Nestle and Tata Steel emerged as the worst losers.
To those market experts, the IT and banking sectors have been an area of potential good numbers going into the Q2 results season.
The results of HCL Tech may please and confirm the positive expectations, and the banking result, especially that of the private sector banks, also may be good. The banking stocks offer decent comfort in terms of valuation compared to IT stocks where there is only limited comfort in terms of valuation, and, therefore, may move up from present levels," said analysts.
Asian markets are booming. Except for Hong Kong, the markets of Tokyo, Bangkok, Jakarta, and Seoul are trading in green. The US stock markets have closed in the green on the previous trading day.
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