Equity benchmark indices opened in the green on Tuesday led by buying interests in IT, telecom, and power stocks. However, the gains were capped as banking, metal, energy, and oil & gas stocks.
Interestingly, markets turned flat amid selling pressure in heavyweights like HDFC Bank, ITC, HCL Tech, and ICICI Bank.
The Sensex was down 3 points at 38,868 levels, and the Nifty50 index is slightly up at 11,669 levels. The market breadth was neutral on the NSE with 833 shares advancing, 731 shares declining, and 510 remaining unchanged.
In the broader market, the BSE MidCap index was trading 0.32% higher at 15,609, while the BSE SmallCap index was ruling at 15,169, up 0.17%.
Shares of Cyient dropped 9% as the company expects a material decline in design led manufacturing revenue, as a large order delivery of $5 million has been delayed due to delay in regulatory clearances at the customer end.
Shares of Bajaj Auto is trading slightly lower on the NSE. The company’s March sales were up 18% at 3.93 lakh units against 3.34 lakh units in the same month last year.
The volatility index, India VIX, was up 1.72% at 18.31.
Among stocks, Eicher, ONGC, and Coal India were trading higher, ZEE, BPCL, IOC, and HCL Tech were trading lower on the NSE.
The most active stocks on the NSE are Eicher, Lakshmi Vilas Bank, RIL, and Infosys.
Meanwhile, Asia stock markets were trading higher on Tuesday as factory activity surveys from China and the United States boosted investor confidence, triggering the largest one-day sell-off in the US Treasury market in nearly three months.
On the economy front, India’s eight core industries stood at 125.8 in February 2019, which was 2.1% higher as compared to the index of February 2018.
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