Investors turned cautious on Tuesday as the Indian stock markets began on a negative note in the pre-open hours. The BSE Sensex dipped close to 200 points to trade under 82,250, while the NSE Nifty50 declined 61 points to touch 24.864 around 9:11 AM.
Traders remained wary as they awaited inflation data for the Indian economy for April scheduled to be released later today. Meanwhile, a mix of global and domestic factors added to the complexities in the market.
As such, indices reversed sentiment and started trading in green as markets finally opened. Around 9:16 AM, the Sensex rallied close to 100 points to cross 82,500 in the early hour, while the Nifty inched up 12 points to trade at 24,937.
However, immediately minutes later, the indices exhibited heavy volatility and declined in the session.
Broader Markets, Sentiment Uplifted, And Rupee
On the 30-share Sensex, Sun Pharma, IndusInd Bank, and Bajaj Finance emerged as the only gainers in the market around 9:23 AM. The laggards were dominated by Infosys, Eternal, Kotak Mahindra Bank, and PowerGrid.
While the Indian military reported no drones were seen after India and Pakistan agreed to a ceasefire over the weekend, US and China agreed to put their trade war on pause and lower their reciprocal tariffs for a 90-day period.
These developments caused Asian markets to rally higher on Tuesday as investors saw a ray of hope that the trade relations between two largest economies of the world seemed to be moving towards a better place. Japan’s Nikkei climbed 2 per cent, while Chinese markets saw gains on Tuesday morning.
The Indian rupee gained 74 paise to touch 84.62 against the US dollar in early trade on Tuesday, backed by optimism spread among investors as tensions eased between India and Pakistan, along with the US-China trade deal.
Doonited Affiliated: Syndicate News Hunt
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