Indian stock markets opened on a positive note on Tuesday, extending gains from the previous session. BSE Sensex gained over 300 points, while NIFTY 50 moved above the 23,500 level, supported by improving investor sentiment.
The optimism was largely driven by expectations of the resumption of shipping activity through the Strait of Hormuz, which had earlier raised concerns about global trade and oil supply disruptions.
Sectoral Trend Remains Mixed
Markets witnessed a mixed trend with clear sectoral divergence. Auto, metals and midcap stocks showed strength, indicating selective buying by investors. Stocks like Mahindra & Mahindra saw gains of up to 3%, contributing to the positive momentum.
However, weakness in IT, PSU banks and FMCG sectors capped further upside. This reflects a cautious undertone in the market, where investors are rotating between sectors instead of taking aggressive positions.
Global Market Cues Mixed
Global signals remained mixed, limiting strong upside in domestic markets. Futures of the S&P 500 declined 0.2%, indicating slight weakness in U.S. markets.
Meanwhile, Japan’s TOPIX rose 1.1%, and Hong Kong’s Hang Seng Index gained 1.2%. China’s Shanghai Composite also moved up 0.3%, while Euro Stoxx 50 futures remained largely unchanged.
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