Share Market Opening Bell: Domestic stock market recovered after falling, Sensex-Nifty jumped after initial fall
New Delhi| The domestic stock market started trading with a red mark on Tuesday. However, gradually the market returned to a positive trend. After the initial fall, Sensex-Nifty jumped and reached the green mark.
Equity benchmark indices Sensex and Nifty rose in early trade on Tuesday due to sustained inflows of foreign funds and pickup in investor sentiment amid buying in blue-chip bank stocks. The 30-share BSE benchmark Sensex climbed 319.89 points to 79,728.39 in early trade. NSE Nifty rose 76.1 points to 24,201.65 points.
Who benefits and who suffers?
Among Sensex companies, Eternal, Tata Steel, Kotak Mahindra Bank, HDFC Bank, Tech Mahindra and Mahindra & Mahindra were the biggest gainers. IndusInd Bank, Infosys, Power Grid and Asian Paints appeared to be lagging behind. Foreign institutional investors (FIIs) bought shares worth Rs 1,970.17 crore on Monday, according to exchange data.
Condition of Asian and American markets
In Asian markets, South Korea’s Kospi index and Shanghai SSE composite gained, while Tokyo’s Nikkei 225 and Hong Kong’s Hang Seng remained weak. A significant decline was recorded in the American market on Monday. The Nasdaq Composite dropped 2.55 percent. The Dow Jones Industrial Average fell 2.48 percent and the S&P 500 by 2.36 percent.
