Stocks in focus: Ruchit Jain of 5paisa recommends buying HUL, and Dabur India today
Stock Market News: The domestic benchmark indices, the Sensex and Nifty 50, kicked off Tuesday's trading session with modest gains amid positive global cues on reaffirmed optimism that major central banks will begin cutting interest rates this year. The initial gains were led by FMCG and PSU Bank stocks. The 30-share BSE Sensex opened higher by 77.76 points, or 0.11%, at the 73,973.30 level, while the Nifty 50 started off at the 22,489.75 level, up 47.10 points, or 0.21%.
The under performance of the Indian market in spite of encouraging global cues is a noteworthy near-term pattern in the market, according to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The market, which had already priced in a BJP/NDA win, is now a little uncertain.
This may be the cause of the market's anxiety and the bulls' decision to soften their aggressive stance. The India VIX increased by 46% in the past month and is currently trading at 16.6. This indicates that there will be volatility and uncertainty for a while.
Also Read: Sensex Today Live Updates : Sensex, Nifty green at open; Lupin falls 4%, Godrej Consumer gains 6% Nifty 50 traded within a narrow range at the start of the week, but a lot of sector specific momentum was seen on both sides of the trade. The market breadth was more in favour of declines, while the index ended below 22,450 with a marginal loss, said Ruchit Jain, Lead Research Analyst at 5paisa. Post the sharp sell-off from the highs on Friday last week, the Nifty 50 consolidated in a range, but the volatility index (INDIA VIX) rallied by another 13 percent on Monday.
Read more on livemint.com
