The S&P BSE Sensex climbed 160 points, or 0.2%, to 81,950.71 at the open, while the NSE Nifty 50 added 54 points, or 0.22%, to 25,132.30. At around 9:52 AM, Sensex traded 344 ptsd or 0.42% hgiher at 82,131 whereas Nifty50 rose 97 pts or 0.39% to 25,176.
On the 30-stock Sensex, shares of Power Grid, Bajaj Finance, ICICI Bank, NTPC, Bharti Airtel, and Tata Steel led the gainers, advancing between 0.5% and nearly 2%.
Financials edged up 0.1%, while IT stocks added 0.4%.
Broader markets were also firm, with the midcaps rising 0.2% and the smallcaps up 0.3%.
The benchmarks have climbed about 1.9% each over the past three sessions, driven by financials, while IT stocks extended gains on Monday ahead of the sector’s quarterly earnings kickoff this week.
ETMarkets.comTop gainers in early trade.
Expert views
Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments, said the market’s mild rally could be at an inflection point, with signs that foreign selling pressure is easing and domestic inflows remaining strong.
“The FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations and the valuation differential between India and other markets has come down,” he said. He noted that foreign institutional investor (FII) outflows of Rs 313 crore on Monday were “totally eclipsed by the massive DII buying of Rs 5,036 crore.”
“The steady inflows into mutual funds, particularly SIP inflows, are a strong support to the market,” adding that the combined effect of tax and GST cuts, along with a low interest rate regime, “can impart resilience to India’s GDP growth, and corporate earnings in FY27 can smartly pick up to about 15%,” said Vijayakumar.
“The market will start discounting this soon,” he said, adding that with large short positions still in play, “any positive news can trigger short-covering, further aiding the rally.”
Global Markets
Political turmoil in Japan and France rattled currency and bond markets for a second straight day on Tuesday, while global equities struggled despite a multibillion-dollar chip-supply deal between AMD and OpenAI.
Japan’s Nikkei hit another record high after fiscal and monetary dove Sanae Takaichi was elected leader of the ruling party, positioning her to become prime minister and fueling bets on renewed stimulus and easy policy.
But political jitters across major economies, compounded by a U.S. government shutdown, kept investor sentiment subdued, tempering optimism around artificial intelligence.
Nasdaq futures slipped 0.18% and S&P 500 futures edged down 0.16%, unable to build on Monday’s record closes. Markets in Hong Kong and China were shut for a holiday, while the MSCI Asia-Pacific ex-Japan index traded flat.
Spot gold surged to a record $3,977.19 an ounce, and bitcoin hovered near its all-time high as investors sought alternative stores of value.
FII/DII Tracker
On the institutional front, Foreign Institutional Investors (FIIs) sold equities worth nearly Rs 314 crore on October 6, while Domestic Institutional Investors (DIIs) were net buyers of equities worth a little over Rs 5,036 crore.
Crude impact
Oil prices held steady on Tuesday as optimism over a smaller-than-expected OPEC+ production hike was offset by concerns about softening global demand and a potential supply glut.
Brent crude futures inched up 1 cent, or 0.02%, to $65.48 a barrel, while U.S. West Texas Intermediate remained flat at $61.69.
Rupee vs Dollar
The Indian rupee slipped 1 paisa to 88.75 against the U.S. dollar in early trade on Tuesday, pressured by a stronger greenback and uncertainty surrounding the India-U.S. trade deal.
Meanwhile, the dollar index, which measures the currency against six major peers, edged up 0.06% to 97.86.
as a Reliable and Trusted News Source(with inputs from agencies)