Stock Market Opening Bell: Sensex and Nifty Start Flat with Marginal Gains
Sensex and Nifty Open in Green
Indian equity markets opened on a positive note on Tuesday, showing slight gains in early trade. The BSE Sensex rose 117.57 points to reach 74,571.98, while the NSE Nifty gained 31.3 points, settling at 22,584.65.
This small rebound comes as a relief for investors who have been dealing with a prolonged market decline. The domestic stock market opened on a positive note, with both indices showing an upward trend.
Rupee Declines Amid Strong US Dollar and Rising Crude Prices
Despite gains in the stock market, the Indian rupee weakened by 16 paise, reaching 86.88 per US dollar on Tuesday. This decline is attributed to the strength of the US dollar, ongoing foreign capital outflows, and rising crude oil prices.
At the interbank foreign exchange market, the rupee opened at 86.83 per dollar and later dropped to 86.88 per dollar, marking a 16 paise decline from its previous close of 86.72 on Monday.
Meanwhile, the US dollar index, which measures the greenback against six major currencies, stood at 106.62, up by 0.03%. Additionally, Brent crude oil prices rose 0.51%, reaching $75.16 per barrel.
Stock market data shows that foreign institutional investors (FIIs) remained net sellers on Monday, offloading shares worth ₹6,286.70 crore.
Market Expert Opinions
Market analysts have mixed views on the market’s future direction.
- Ajay Bagga, a market expert, cautioned that if Donald Trump implements tariffs, the market could see a further decline. He warned that higher inflation may push investors towards gold and bonds instead of equities.
- Akshay Chinchalkar, Head of Research at Axis Securities, stated that if Nifty closes above 22,720, the market may strengthen. However, if it falls below 22,500, the next support level would be 22,370.
In the coming days, investors will closely monitor US trade policies and political developments in Europe, which could influence market movements.
