Dalal Street Remains Optimistic Amidst West Asia Tensions, Sensex Tests 75,700

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Indian equity markets are set for a robust session on Tuesday, with benchmark indices trading higher in the pre-open session, supported by a rebound in the previous session and early signs of stabilisation in global sentiment.

The BSE Sensex opened trading a little over 75,700, climbing almost 200 points, while the NSE Nifty50 started the day marginally higher above 23,400, as of 9:15 AM.

At around 9:06 AM in the pre-open session, the Sensex was at 75,830.35, up 327.50 points or 0.43 per cent, while the Nifty stood at 23,474.10, higher by 84.90 points or 0.36 per cent, indicating a firm start for domestic equities.

The positive pre-open cues come after markets staged a recovery on Monday following three consecutive sessions of sharp losses.

On the 30-share Sensex,BEL, Asian Paints, Eternal, Bharti Airtel, and Sun Pharma emerged among the early gainers. On the other hand, the laggards included Infosys, HCL Tech, Titan, UltraTech Cement, and Trent.

At around 9:03 AM in the pre-open session, the BSE benchmark was quoted at 74,393.26, down 170.66 points or 0.23 per cent. The Nifty stood at 23,101.15, lower by 49.95 points or 0.22 per cent, signalling a muted opening for domestic equities.

In the broader markets, majority of the indices remained volatile and traded marginally lower. Sectorally, the IT index clocked a loss of 0.98 per cent, while the Pharma index inched up 0.36 per cent.

Markets Rebound After Three-Day Sell-Off

Benchmark indices bounced back on Monday as investors stepped in to buy blue-chip stocks at lower levels after the recent correction.

The 30-share Sensex rose 938.93 points, or 1.26 per cent, to close at 75,502.85. During the session, it touched an intra-day high of 75,805.27 and a low of 73,949.76.

The Nifty gained 257.70 points, or 1.11 per cent, to settle at 23,408.80.

Market participants attributed the recovery to value buying in select large-cap counters following the sharp decline seen in recent sessions.

The rebound was led by strong buying in domestically focused sectors. Banking, auto and FMCG stocks saw renewed interest as investors looked to accumulate quality names at relatively attractive valuations.

Relief Rally, But Caution Persists

Analysts described Monday’s move as a relief rally following the recent sell-off, with investors selectively deploying capital in beaten-down stocks.

“The equity market staged a late-session rebound, supported by value buying in domestically oriented sectors such as auto, banking and FMCG,” said Vinod Nair, Head of Research at Geojit Investments Limited.

He added that near-term sentiment will remain sensitive to developments in the Strait of Hormuz, where any easing of supply chain disruptions could provide further support to markets.

Ajit Mishra, SVP, Research at Religare Broking Ltd, said that despite the recovery, the overall mood remains cautious.

“Markets started the week on a volatile note and gained over a per cent, snapping their recent losing streak, supported by bargain buying. However, the overall mood remained cautious amid persistent geopolitical tensions in the Middle East and elevated crude oil prices, which continue to raise concerns over inflation and India’s import bill. In addition, continued foreign institutional investor outflows and currency volatility are keeping risk appetite in check,” he said.