Mumbai (Maharashtra) [India], December 24 (ANI): Indian stock markets opened marginally increased on Tuesday earlier than the Christmas vacation. The probabilities of a year-end rally are diminishing resulting from constant stress within the markets.
The Nifty 50 index opened at 23,769.10 factors with a marginal acquire of 15.65 factors or 0.07 per cent, whereas the BSE Sensex opened at 78,707.37 factors, gaining 167.20 factors or 0.21 per cent.
The Indian stock markets are below stress primarily resulting from two important causes: the sturdy dollar and excessive bond yields within the US, that are prompting FIIs to promote throughout rallies. A near-term rally doesn’t appear doubtless. As the 12 months attracts to a detailed, traders are suggested to prioritize security over returns within the present context.
Ajay Bagga, Banking and Market Expert advised ANI, “Today markets are pointing to a small positive open in India. Festive Greetings and Happy Investing. Don’t fall for Miscalculated Certainty and Leave space for Chance in your success. As Outlook 2025 come in and investors scour these for forecasts of the future, there are very few who mention how Outlook 2024 was largely off the mark”.
Among the sectoral indices, most sectors confronted stress, whereas solely Nifty Auto, Nifty FMCG, Nifty IT, Nifty Media, and Nifty PSU Bank registered positive aspects.
In the Nifty 50 listing, 31 shares opened increased, whereas 19 declined on the time of submitting this report. The prime gainers within the opening session included Britannia, TCS, Tata Motors, Nestle India, and Hero Motors, whereas the losers included JSW Steel, IndusInd Bank, and Shriram Finance.
“The relief rally witnessed yesterday is unlikely to have a free run-up in the coming days. Two sets of factors- external and internal- will restrain a sustained rally. Externally, the strong dollar and high bond yields in the US will prompt the FIIs to sell on rallies. Internally, the growth and earnings slowdown will be near-term negatives that will restrain the bulls. Investors should prioritise safety over returns in the current context” stated V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
In different Asian markets on Tuesday, a combined development was noticed. Japan’s Nikkei 225 index and South Korea’s KOSPI have been down, whereas different markets, together with Taiwan’s Weighted, Hong Kong’s Hang Seng, and Indonesia’s Jakarta Composite, have been up with marginal positive aspects on the time of submitting this report. (ANI)