Mumbai (Maharashtra): The stock market continued its bullish streak as it opened in the green today, with both benchmark indices showcasing positive momentum.
The Sensex surged 89.81 points, opening at 70,009.20, while the Nifty gained 35.25 points, starting at 21,032.35.
At 10:16 am, Sensex was trading 46.57 points higher at 69,881.96, whereas Nifty was trading 6.60 points down at 20,990.50.
Among the Nifty companies, the market exhibited strength with 39 advances and 10 declines.
Notable gainers included HDFC Life, Bajaj Auto, SBI Life, Hero Motocorp, and Tata Steel. Conversely, Eicher Motors, LT, Bharti Airtel, Coal India, and Infosys faced some selling pressure, emerging as the top losers.
Market sentiment, fundamental factors, and technical analysis collectively indicate a prevailing Fear of Missing Out (FOMO), driving the Nifty to new highs. The bullish momentum extends beyond Indian markets, with Wall Street’s S&P 500 hitting new records in 2023.
In parallel, gold prices experienced an uptick on Tuesday following a recent dip. This rise is attributed to a weakening dollar, and investors are eagerly awaiting key U.S. inflation data and major central bank policy meetings for insights into potential interest rate changes.
As the market charts new territories, investors are navigating a landscape of optimism, with eyes on both domestic and global cues that shape the trajectory of financial markets.
The records set in the opening minutes suggest that the positive sentiment is holding firm, setting the stage for another day of dynamic trading on Indian bourses.
