Indian Stock Market Opens Higher: Sensex Up 189 Points Amid IT and Financial Buying

Mumbai (The Uttam Hindu): The Indian stock market opened in the green on Tuesday, with buying activity observed in the IT and Financial Services sectors.

At around 9:28 AM, the Sensex was up 189.95 points (0.23%) at 82,517, while the Nifty gained 67 points (0.27%), trading at 25,294.35.

Among broader indices, Nifty Midcap 100 rose 0.35% and Nifty Smallcap 100 gained 0.47%.

Sectoral performance:

Gainers: Nifty IT 0.93%, Nifty Financial Services 0.28%, Nifty FMCG 0.12%, Nifty Metal 0.93%, Nifty Realty 0.20%

Losers: Nifty Auto 0.10%, Nifty PSU Bank 0.47%, Nifty Pharma 0.30%, Nifty Media 0.02%

Market experts noted that large-cap stocks performed better over the past year (Nifty +1.05%), while small-caps lagged (Nifty Smallcap Index -4.77%). PSU banks showed significant growth (Nifty PSU Bank Index +16.77%) and IT sector lagged (Nifty IT -16.5%).

They explained that IT stocks, especially large-caps, are highly valued due to strong structural factors despite facing challenges. In contrast, PSU stocks are trading at lower valuations despite good growth and strong balance sheets, which the market is correcting—a trend expected to continue.

Top gainers in Sensex pack: HCL Tech, Tata Steel, Tech Mahindra, Bajaj Finserv, Infosys, BEL

Top losers: Maruti Suzuki, Axis Bank, SBI, Titan

In the US markets, the Dow Jones rose 1.29% (587.98 points) to 46,067.58, S&P 500 gained 1.56% (102.21 points) to 6,654.72, and Nasdaq surged 2.21% (490.18 points) to 22,694.61.

Asian markets: Shanghai Composite up 0.21%, Nikkei down 1.43%, Kospi up 0.60%, Hang Seng down 0.54%.

FII/DII activity: On 13 October, foreign institutional investors (FII) were net sellers, offloading shares worth ₹240.10 crore, while domestic institutional investors (DII) were net buyers, purchasing shares worth ₹2,333.42 crore.