Stock Market Opens: Sensex Gains 360 Pts, Nifty Up 0.46% As IT, Realty Charge

Stock Market Opens: The domestic bourses opened in green on the second trading session of the week after a strong closing on Monday led by Information & Technology (IT), real estate, and metal stocks while midcaps maintained their lead in broader indices.

The BSE’s 30-share Sensitive Index surged as much as 360 points or 0.3 per cent in the early trade at  80,461.20 whereas the NSE ’s Nifty 50 was trading 88.45 points or 0.37 per cent higher at 24,302.05 levels.

The market was led by strong momentum in IT major Infosys which opened nearly two per cent higher, Tata Steel gaining 1.01 per cent, and Tech Mahindra which surged 0.93 per cent in the early trade.

Out of Sensex’s 30 shares, 18 were trading in green along with all the sectoral and broader market indices listed on the NSE which were recording an up move. 

Buying Opportunity

VLA Ambala, Co-Founder, Stock Market Today shared that the current market conditions create a good a good buying opportunity. “The latest data shows that FIIs offloaded approximately Rs 40,947.35 crore from the Indian cash market while the DIIs injected nearly Rs 37,559.08 crore in November. While this gap has influenced the market direction, mutual funds, which are among prominent DIIs in India, are still at their lifetime-high cash levels. In this cautious situation, any decent dip could emerge as a buying opportunity, provided the valuations are justifiable,” said Ambala.