MUMBAI — The domestic benchmark indices opened higher on Tuesday as buying
was seen in the energy, PSE, auto, IT, PSU bank, financial service, pharma,
FMCG, metal and realty sectors.
At around 9.27 am, Sensex was trading at 78,292.85 after
rising 327.86 points or 0.42 per cent, while Nifty was trading at 23,744.85
after gaining 128.80 points or 0.55 per cent.
On the National Stock Exchange (NSE), 1,724 stocks were
trading in green, while 487 stocks were in red.
Nifty Bank was up 258.50 points or 0.52 per cent at
50,180.50. Nifty Midcap 100 index was trading at 56,737.20 after rising 370.25
points or 0.66 per cent. Nifty Smallcap 100 index was at 18,534.15 after
gaining 108.90 points or 0.59 per cent.
According to market experts, the 1.6 per cent cut in
Nifty on Monday appears to be an overreaction to the HMPV virus concerns. Nifty
corrected by 388 points, which means the correction was triggered by short
selling by bears trying to exploit the negative sentiments.
"The resilience of the pharma and health care stocks
also indicate the influence of the virus concerns on the market. Clarification
by the government that there is no room for undue concern from the virus, which
is not new, can facilitate a rebound in the market, led by momentum
stocks," they mentioned.
In the Sensex pack, Titan, HCL Tech, IndusInd Bank, Bajaj
Finance, Adani Ports, Bajaj Finserv, Nestle India, PowerGrid and Tech Mahindra
were the top gainers. Whereas, Zomato, M&M and Tata Motors were the top
losers.
The Dow Jones declined 0.06 per cent to close at
42,706.56. The S&P 500 gained 0.55 per cent to 5,975.40 and the Nasdaq
gained 1.24 per cent to close at 19,864.98 in the last trading session.
In the Asian markets, Hong Kong and China were trading in
red. Seoul, Jakarta, Bangkok and Japan were trading in green.
Foreign institutional investors (FIIs) sold equities
worth INR 2,575.06 crore on January 6 and domestic institutional investors
bought equities worth INR 5,749.65 crore on the same day.
