Mumbai: The Indian stock indices are up on Tuesday, following the positive trend in the broader market.
At 9:50 a.m., Sensex was up by 110 points or 0.14 per cent at 72,887 points, and Nifty was up by 30 points or 0.14 per cent at 22,134 points.
Broader markets outperformed benchmark indices. On NSE, 1,590 stocks were in the green mark and 539 stocks in the red mark.
Nifty Midcap 100 Index was up by 108 points or 0.22 per cent, at 49,843 points and the Nifty Smallcap 100 Index was up by 140 points or 0.87 per cent at 16,178 points.
Out of 30 Sensex stocks, 19 stocks opened in the green and 11 stocks opened in the red.
Power Grid, JSW Steel, NTPC, HCL Tech, and SBI were the top five gainers. Asian Paints, Axis Bank, Nestle, ITC, and ICICI Bank were the top five losers.
According to Market Experts, “The trend in May of sustained selling by FIIs and sustained buying by DIIs continues. So, in May, FIIs sold equity in the cash market for Rs 29,474 crores, and DIIs bought for Rs 22,973 crores. This trend is likely to continue and the spike in India VIX will ensure high volatility.”
“Under these circumstances, the best option for investors is to wait and watch for a trend change, which can happen at any time. Clarity on election trends is likely to come before June 4, the counting day, and the market response can be strong. Buying on dips would be a good strategy now.”
(IANS)
