The Sensex and Nifty opened in the green on Tuesday, helping the stock market get off to a good start. As trading got underway, the Sensex was up 26.81 points at 65,242.90, and the Nifty was up 8.00 points at 19,400.25. In the Nifty index, 38 companies reported gains, 13 recorded losses, and none showed no change.
The early leaders of the day included Adani Enterprises, HDFC Life, Tata Motors, NTPC, and SBI Life, all showing notable gains.
Jio Financial Services, Reliance, Nestle India, Hindustan Unilever, and TCS were the top losers in the opening moments of the trading session.
Weighing in on the early trends in the stock market, Varun Aggarwal, founder and managing director of Profit Idea, highlighted the importance of tracking the US 10-year yield and Dollar Index.
Aggarwal said, “US 10 year yield and Dollar Index are important to track. Treasury yields took a breather just a week after the 10-year Treasury yield closed at its highest level since 2007.”
Aggarwal added, “Indian markets are seeing good buying accumulation on dips. Nifty is witnessing good support around 19250 levels. Open Interest (OI) data for august series has good put writing at 19000 levels giving it important psychological support”.