Equity indices display positive momentum in early trade, with robust gains in healthcare and IT stocks in Sensex.
Market Opening Surge
In a notable uptrend, the 30-share BSE Sensex jumps 580 points, breaching the 72,000-mark, while the Nifty approaches 21,740. Early trade witnesses significant buying activity, particularly in healthcare and IT sector stocks.
Leading Gainers and Losers
Major gainers among Sensex firms include Bharti Airtel, Sun Pharma, ICICI Bank, PowerGrid, and TCS. On the downside, Asian Paints, HDFC Bank, Hindustan Unilever, and Maruti see declines.
Midcap and Small Cap Movements
BSE midcap index experiences a 0.68% dip, while the small-cap index loses 0.83% during morning hours, indicating varied performances across market segments.
Global and Domestic Sentiments
Globally, positive sentiments prevail, with the S&P 500 hitting a record high at 4850. Asian markets, including Japan’s Nikkei 225 and Hong Kong’s Hang Seng, exhibit positive trends. European markets closed on a positive note on Friday.
Caution Amidst Geopolitical Concerns
Despite the optimism, investors are urged to exercise caution due to ongoing tensions in West Asia and the Red Sea, identified as potential areas of serious concern. Any escalation could impact the market, given the current high valuations.
Weekend Trading Sessions
NSE and BSE conducted normal trading sessions on Saturday, compensating for the market closure on January 22 for the consecration ceremony in Ayodhya. On Saturday, the Sensex fell by 259.58 points to settle at 71,423.65, while the Nifty declined by 50.60 points to close at 21,571.80.
Oil Market Outlook
Brent crude, the global oil benchmark, shows a marginal slip of 0.03%, reaching USD 80.04 a barrel.
Foreign Institutional Investors (FIIs) Activity
On Saturday, FIIs offloaded equities worth ₹545.58 crore, based on exchange data, reflecting their recent market activity.
This surge in indices highlights the dynamic nature of the stock market, influenced by both domestic and global factors. Investors are advised to remain vigilant amid geopolitical uncertainties.
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