Mumbai: Stock market indexes rose early on Tuesday due to purchases of top stocks and investments from foreign funds. In early trading, the 30-stock BSE Sensex rose by 205.99 points to reach 80,166.37. The NSE Nifty increased by 53 points to 24,373.55.
The top performers in the Sensex pack were Maruti Suzuki India, Mahindra & Mahindra, Titan, Adani Ports, Tata Motors, Larsen & Toubro, HDFC Bank and State Bank of India. Hindustan Unilever, Tech Mahindra, Axis Bank, and Infosys were some of the underperformers.
Seoul and Tokyo were trading with gains in Asian markets, while Shanghai and Hong Kong were experiencing losses in their trading prices. US markets closed with mostly positive gains on Monday. The market is displaying resilience and is not indicating any significant decline despite the elevated valuations.
A positive development in the market is that robust largecaps are being bought. V K Vijayakumar, Geojit Financial Services' Chief Investment Strategist, stated that the increase in accumulation and delivery-based buying in largecaps like RIL and ITC reflects a positive trend.
According to data from the exchange, Foreign Institutional Investors (FIIs) purchased equities amounting to Rs 60.98 crore on Monday. Brent crude, the global oil benchmark, fell by 0.28 percent to reach USD 85.51 per barrel.
On Monday, the BSE index fell by 36.22 points, representing a 0.05% decrease, closing at 79,960.38. The NSE Nifty declined by 3.30 points, representing a 0.01 per cent decrease to 24,320.55.
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