Stock market opens in green, Nifty trades above 25,150
Insight Online News
Mumbai, Oct 15 : The Indian stock market opened on a positive note on Tuesday, and except for auto and metal, all other sectoral indices were trading in the green.
The BSE Sensex reached 82,189.42 after rising 216.37 points or 0.26 per cent in early trade. At the same time, NSE Nifty was trading at 25,189.25 after gaining 61.30 points or 0.24 per cent.
The market trend remained positive. On the NSE, 1,323 stocks were trading well, while 721 stocks were in the red.
On the BSE, 1,689 stocks were trading in the green and 852 stocks were in the red in the morning trade.
Nifty Bank was at 51,976.60 after rising 159.70 points or 0.31 per cent. The Nifty Midcap index was trading at 51, 976.60 level after gaining 79.00 points or 0.13 per cent. At the same time, the Nifty 100 index was at 26,266.50 after gaining 68.60 points or 0.26 per cent.
Infosys, HCL Tech, Bharti Airtel and Asian Paints were the top gainers in the Sensex pack. Nestle, Tata Steel, M&M and JSW were the top losers.
Meanwhile, BPCL, Infosys, Bharti Airtel and HCL Tech were the top gainers in the Nifty pack. At the same time, ONGC, Nestle and Tata Steel were the top losers.
According to market experts, going into the Q2 results season, the market has been expecting good numbers from IT and banking.
“HCL Tech’s good results confirm the optimistic expectations and the banking results, particularly from the leading private banks, also are likely to be good. Unlike IT stocks where there is only limited valuation comfort, the banking stocks offer decent valuation comfort and, therefore, have the potential to move up from the present levels,” the analysts said.
Asian markets are witnessing a boom. Except for Hong Kong, the markets of Tokyo, Bangkok, Jakarta and Seoul are trading in the green. The US stock markets closed in the green on the previous trading day.
