Sensex opens 150 points up, Nifty below 25,000; Tata Steel gains 3%

Benchmark stock market indices opened higher on Tuesday, boosted by a rally in information technology (IT) and metal stocks.

The S&P BSE Sensex gained 150.58 points to 82,210.00, while the NSE Nifty50 added 20.45 points to 24,965.90 as of 9:25 am.

Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that in the near-term the market is likely to move to a consolidation phase.

“The high valuations will put a cap on the upside with institutional selling emerging on upside. This was evident from the institutional activity yesterday when both FIIs and DIIs emerged sellers, though marginally. Market dips are likely to be bought into since mutual funds are sitting on a large cash pile,” he added.

Tata Steel emerged as the top gainer on Sensex, surging 2.79%, followed by Infosys which rose 1.34%. Tech Mahindra showed strong momentum with a gain of 1.33%, while Tata Consultancy Services climbed 0.90%. ITC rounded out the top five gainers with an advance of 0.88%.

PowerGrid Corporation witnessed the steepest decline, falling 0.81%, followed by HDFC Bank which dropped 0.72%. Reliance Industries slipped 0.46%, Bajaj Finance lost 0.40%, and Titan declined 0.37%, completing the list of worst performers in early market action.