The S&P BSE Sensex climbed 210.50 points, or 0.26%, to open at 82,537.55, while the NSE Nifty 50 advanced 57.30 points, or 0.23%, to start at 25,284.65.
On the 30-share Sensex, Tech Mahindra, HCL Technologies, Tata Steel, Infosys, and Reliance Industries led the gains, rising between 0.8% and 2%.
Across sectors, IT stocks outperformed, with the Nifty IT index up 0.9%. Shares of HCLTech advanced 1.6% after the nation’s third-largest software exporter reaffirmed its full-year revenue growth guidance of 3%–5% and topped second-quarter revenue estimates.
Broader markets also edged higher, with the smallcap and midcap indexes gaining 0.4% and 0.3%, respectively.
Meanwhile, India’s retail inflation fell to an eight-year low of 1.54% in September, government data showed Monday, as food prices cooled. The sharp moderation has bolstered expectations of a potential rate cut when the Reserve Bank of India meets in December.Expert views
Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments, said the market trends over the past year highlight a clear shift in investor preference. “A significant takeaway from the last one year market performance is the outperformance of large caps (Nifty up by 1.05%) and the underperformance of smallcaps (Nifty Smallcap index down by 4.77%),” he said, adding that public sector banks also stood out. “Equally significant is the outperformance of PSU banks (Nifty PSU Bank index up by 16.77%) and the huge underperformance of IT (Nifty IT down by 16.5%).”
He noted that valuations have been a key driver behind these divergences. According to Vijayakumar, “IT stocks, particularly the large caps, are viewed as overvalued by the market since they are facing many headwinds and some strong structural issues. On the other hand, PSU stocks have been trading at very low valuations despite decent growth and robust balance sheets. This anomaly in valuations has been corrected by the market.”
Vijayakumar expects this trend to persist but added that “in growth stocks like digital companies and renewable energy, their long-term growth potential will continue to attract investment despite high valuations.”
“With Muhurat trading approaching,” he said, “there is room for a mild rally.”
Global Markets
Asian stocks slipped on Tuesday as optimism over U.S.-China trade talks later this month was tempered by doubts about a durable deal.
Early gains in MSCI’s Asia-Pacific index outside Japan and S&P 500 futures faded after initial rebounds following U.S. Treasury Secretary Scott Bessent’s comments that President Donald Trump remains on track to meet Chinese President Xi Jinping in South Korea later this month.
Trade tensions escalated as both nations began imposing port fees on ocean shipping firms, raising costs on global cargo routes.
Hong Kong’s Hang Seng Index fell 0.4%, while China’s CSI 300 dipped 0.1%. Taiwan led gains with a 0.8% jump as TSMC hit a record after OpenAI partnered with Broadcom to produce its first in-house AI chips. South Korea’s Kospi rose 0.6% after Samsung projected a 32% jump in third-quarter operating profit, beating estimates. Japan’s Nikkei dropped 1.2% as markets reopened after a holiday, with the dollar steady at 152.31 yen.
Gold climbed 1.1% to $4,155.90 an ounce, extending record gains, while Bitcoin fell 1.9% to $113,629.29 and Ether slipped 3% to $4,161.79.
FII/DII Activity
Foreign Institutional Investors (FIIs) turned net sellers on October 13 after four consecutive days of buying, offloading equities worth just over Rs 240 crore. Domestic Institutional Investors (DIIs), in contrast, remained net buyers, investing Rs 2,333.42 crore.
as a Reliable and Trusted News SourceMORE TO COME…