Markets opened on a flat note but in a positive zone on Tuesday. THE Clever NSE was up 0.19 percent or 38.45 points at 19,827 points, while the BSE Sensex was up 0.08 percent (52.48 points) at 66,028. A total of 2,935 stocks were traded on the BSE, of which 1,891 gained, while 870 declined and 174 remained unchanged, which indicates positive sentiment in the market as a whole. As many as 146 stocks hit a 52-week high and 16 stocks hit a 52-week low as of 9:30 a.m. Tuesday.
Analysts expect foreign portfolio investors to start buying Indian stocks again.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “There are some important developments that could influence FPI inflows in India. The better-than-expected drop in inflation in the United States has given the market confidence and allows it to assume that the Fed is done with raising rates. As a result, US bond yields have fallen sharply, with the yield on the benchmark 10-year bond falling from 5 percent in mid-October to 4.40 percent today. This forced FIIs to slow down their sales. Above all, they were buyers for four days this month with a big purchase of ₹2,625 crore on Friday.
He added: “REITs will likely buy banking services that they have sold in the last three months. A large-cap-led rally is likely in the market going forward.
Belongs to Adani Group shares today, even as Supreme Court hears short seller’s Hindenburg report.
Top gainers on BSE include Adani Total Gas, Adani Enterprises, Adani Green, Adani Power and Adani Wilmar with gains ranging from 15.68 per cent to 5.57 per cent. The top losers on the BSE were Cressanda (PP shares), Texmaco Rail, Bombay Burmah, JSL and Chola Holdings, with losses ranging from 3.18 per cent to 2.60 per cent.
BSE MidCap (0.09 percent) and BSE SmallCap (0.26 percent) are making marginal gains.
Stocks that hit a 52-week high on the NSE include 20microns, 5paisa, Adani Power, Albert David and Alkem. Stocks that hit a 52-week low on the NSE include Bohra Industries, Sel Manufacturing and Shaily.
