Indian equity indices opened Tuesday’s trading session gap-up. The NSE Nifty 50 opened 111.25 points higher, or 0.49%, at 22,940.40, while the BSE Sensex rose 380.86 points, or 0.51%, to open at 75,747.03. As of 10:20 AM, Sensex surged by 357.43 points, or 0.47%, reaching 75,723.60, while the Nifty gained 50.10 points, up 0.22%, trading at 22,879.25.
As of 12:48 PM, the Sensex stood at 76,175.39, up by 809.22 points or 1.07%, while the Nifty 50 rose by 193.65 points, reaching 23,022.80, a gain of 0.85%.
Pain broader markets continue
The BSE Midcap and the BSE Small cap Indices continue to be under pressure and the market breadth slides to 2-year low. “The broader market, represented by the NSE500, now has 9% and 8% of its members trading above the 50- and the 100-day averages, which means the current decline is very mature and the risk of a short-covering based advance is very high,” said Akshay Chinchalkar, Head of Research, Axis Securities.
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In the early trading hours, GIFT Nifty indicated a high start for domestic indices, NSE Nifty 50 and BSE Sensex, on Tuesday. It was trading 125 points or 0.55% higher at 22,935.
Sectoral indices
In today’s trading session, the Nifty Bank opened 518.15 points higher, or 1.08%, to trade at 48,582.80 The Nifty Midcap 100 gained 212.85 points, or 0.41%, to open at 52,008.75.
Similarly, the Nifty Midcap 50 opened higher by 46.80 points, or 0.32%, to trade at 14,473.85. The Nifty Smallcap 50 was trading at 7,789.30, up 11.40 points, or 0.15%.
Top gainers and losers
In the morning trading hours, the top gainers on the Sensex included Axis Bank, Bajaj Finance, Infosys, HDFC Bank, and ICICI Bank. On the other hand,
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