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Indian markets kick off Tuesday on a strong note. Nifty and Sensex gain early, but which stocks are soaring and which are slipping? Read the article given below to get the full market pulse now!
Asian markets are trading mostly in the green
New Delhi: The Indian stock market is experiencing a positive start on Tuesday, October 7, with both the Nifty 50 and BSE Sensex showing gains. The Nifty 50 traded at 25,093, up 15 points, while the BSE Sensex stood at 81,845, gaining 55 points.
Early trading saw gains in sectors such as power, energy, and metals, reflecting investor optimism, while some retail and FMCG stocks witnessed modest declines.
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Early market trends suggest a mixed sectoral performance. While power and energy stocks are showing strength, retail stocks are under pressure. For instance, Trent Ltd. is down by approximately 3%
In contrast, stocks like Coal India and ONGC are witnessing positive momentum.
Analysts have highlighted several stocks to watch today:
Mahindra & Mahindra: Recommended as a top buy due to favorable market conditions and likely solid performance in the auto sector
Bharat Forge: Endorsed for its strong fundamentals and potential growth in the engineering and manufacturing segments
LTIMindtree: Expected to be in focus due to recent developments in the IT sector
Metropolis Healthcare: Gained more than 2% following a 23% increase in revenue for the second quarter
Asian markets are trading mostly in the green, with Japan’s Nikkei 225 hitting a fresh record high, rising 0.78%. However, markets in China, Hong Kong, and South Korea remain closed for holidays
US stock markets ended on a mixed note overnight, with the Nasdaq and S&P 500 registering record closing highs, while the Dow Jones edged lower
Analysts suggest that as long as the Nifty holds above the 24,950 level and the Bank Nifty sustains above 55,700, dips are expected to attract buying interest, keeping the broader uptrend intact.
Overall, the Indian stock market is poised for a steady yet cautious start, supported by positive global cues and domestic consumption trends during the ongoing festive season.
Stock Market Today: Sensex falls 100 pts, Nifty below 24,800; Know where to invest
Several factors are influencing the Indian stock market. Positive global cues from Japan’s Nikkei 225, which hit record highs, and strong U.S. stock performances have boosted investor sentiment. Domestically, corporate earnings updates, particularly from the power, energy, and banking sectors, are driving selective gains.
Seasonal consumption trends ahead of the festive period and government policy announcements also continue to impact market direction, while retail and FMCG stocks face profit-booking pressures.
