Mumbai: The Indian stock market opened flat on Tuesday amid positive global cues.
At around 9:28 am, Sensex was trading at 78,588.23 after gaining 48.06 points or 0.06 percent, while the Nifty was trading at 23,766.30 after gaining 12.85 points or 0.05 percent.
The market trend remained positive. On the National Stock Exchange (NSE), 1,302 stocks were trading in green, while 877 stocks were in red.
According to experts, the relief rally witnessed yesterday is unlikely to have a free run up in the coming days.
“Two sets of factors- external and internal- will restrain a sustained rally. Externally, the strong dollar and high bond yields in the US will prompt the FIIs to sell on rallies. Internally, the growth and earnings slowdown will be near-term negatives that will restrain the bulls.” They noted.
The Nifty Bank index was down 80.55 points, or 0.16 percent, at 51,237.05. The Nifty Midcap 100 index was trading at 57,016.10 after dropping 76.80 points, or 0.13 percent. The Nifty Smallcap 100 index was at 18,660.65 after dropping 27.15 points, or 0.15 percent.
On the sectoral front, buying was seen in the auto, IT, FMCG and PSU bank sectors. Whereas, selling was seen in the financial services, pharma, metal and energy sectors.
In the Sensex pack, Bharti Airtel, Tata Motors, TCS, Bajaj Finance, HDFC Bank, Infosys, ICICI Bank, L&T, Asian Paints, Maruti, and SBI were the top gainers. Meanwhile, Zomato, Power Grid, Titan, NTPC, UltraTech Cement, and IndusInd Bank were the top losers.
The Dow Jones closed in the last trading session at 42,906.95 after gaining 0.16 percent. The S&P 500 added 0.73 percent to 5,974.07, and the Nasdaq gained 0.98 percent to close at 19,764.88.
In the Asian markets, except Seoul and Japan the markets of Hong Kong, China, Jakarta and Bangkok were trading in green.
On December 23, foreign institutional investors (FIIs) sold equities worth Rs 168.71 crore, while domestic institutional investors bought equities worth Rs 2,227.68 crore on the same day.
–IANS
