Metal stocks lead spurt in Sensex
Sensex is up more than 400 points in trade on Monday led by metal stocks.
Sensex is up more than 400 points in trade on Monday led by metal stocks.
Market has reached an oversold condition at key support levels and the current situation represents a corrective phase within the ongoing bull market. This indicates a potential opportunity to initiate long positions.
A total of 68 stocks of the Nifty 500 index stood out as star performers from the closing of January 25, 2023, till January 25, 2024.
With the consecration, there are multiple investment avenues opened for the citizens.
Indian stocks traded marginally higher Tuesday morning apparently due to fresh buying by investors after the recent profit booking. On Monday, they were largely steady.
IT stocks like Tech Mahindra, Infosys, HCL Technologies and TCS closed with decent gains
"Morgan Stanley has downgraded Indian markets to equal weight. All these could lead to FPI unwinding and continued pressure on indices," said Deepak Jasani, Head of Retail Research, HDFC Securities.
According to Gaurav Garg, Head of Research at CapitalVia Global Research: "The Indian Benchmarks started on a positive note amid mixed global cues. Traders will be taking encouragement with Niti Aayog's statement that Indian economy is expected to grow 10.5 per cent in the current fiscal."
According to Gaurav Garg, Head of Research at CapitalVia Global Research: "The Indian Benchmarks has cut some of its losses in the late morning session. Negative cues from other Asian markets impacted the domestic sentiments."
Among sectors Power, Metals, Consumer Durables, Capital goods, Automobiles and Telecom are the main gainers so far whereas Realty index is marginally in the red.
