Indian stock market opened in a limited range on Tuesday. Buying was seen in IT, Fin Services, FMCG and Metal sectors in early trade. Sensex is trading down 69.05 points or 0.09 percent at 80,151.67 and Nifty is trading down 34.40 points or 0.14 percent at 24,437.70. The market trend remains mixed. On the National Stock Exchange (NSE), 1126 stocks are trading in the green while 1170 stocks are trading in the red. Nifty Bank is at 51,313.05 after gaining 56.50 points or 0.11 percent. Nifty Midcap 100 index is trading at 50,087.10 after slipping 86.95 points or 0.15 percent. Meanwhile, Nifty Smallcap 100 index is at 18,021.05 after slipping 39.95 points or 0.22 percent.
Bajaj Finance, Bajaj Finserv, HDFC Bank, Nestle India, Tech Mahindra and TCS were the top gainers in the Sensex pack. Whereas, NTPC, Power Grid, M&M, Tata Motors and SBI were the top losers. Talking about Asian markets, Shanghai, Hong Kong markets were trading in the green. Whereas, Jakarta, Japan and Bangkok markets were trading in the red. US stock markets had closed in the red on the previous trading day.
According to market experts, “Going forward, the trend of largecaps outperforming mid and smallcaps is likely to continue. The counter trend of FII selling and DII buying is likely to continue. This will give strength to largecap financial stocks, especially banking stocks like HDFC, ICICI, Axis and Kotak, which are reasonably priced in this market with high valuations,” they added.