FIRST TRADE: Sensex up 250 pts, Nifty above 19,550; Shipping Corporation of India jumps 5%

Stock market today: Domestic equity indices Sensex and Nifty opened with gains on Tuesday, October 10, tracking a rebound in global stocks, while the military conflict between Israel and the Palestinian Islamist group Hamas continued to trigger a rise in oil prices.

Last seen, the S&P BSE Sensex was up 230.75 points, or 0.35 per cent, at 65,743.14, and the NSE Nifty was up 65.4 points, or 0.34 per cent, at 19,577.75.

"In the realm of financial markets, amidst rising geopolitical tensions and shifting investor sentiment, opportunities and risks intertwine. While concerns loom over events like the Hamas attack on Israel and significant FIIs selling, the recent positive development with Federal Reserve Vice Chair Philip Jefferson's cautious approach sparks speculation," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. 

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 opened on a positive note.

Nifty Bank was up 0.52 per cent at 44,115.4.

BUZZING STOCKS 

Escorts Kubota's stock was up over 3 per cent after brokerage firm DAM Capital raised its target on the stock.

Zomato shares were up over 2 per cent after Swiggy partners called a strike. 

The Phoenix Mills shares edged over 2 per cent higher post-Q2 results. 

The Nifty Realty index was up 1.6 per cent after ANAROCK said the National Capital Region (NCR), the Mumbai Metropolitan Region (MM), Bengaluru, Pune, Hyderabad, Chennai, and Kolkata saw the launch of about 31,180 luxury projects in July-September.

Shipping Corporation of India (SCI) was up over 4 per cent after its management, in an interview with Zee Business, said that the government will complete the disinvestment by FY24.

Conversely, Dr. Reddy's Laboratories shares were down over 1 per cent after the company's subsidiary was named as a defendant in a complaint filed on October 6, 2023, in the United States District Court for the Northern District of California.

Dhampur Bio Organics was down over 8 per cent after it decided to keep the installation of the Greenfield distillery at Unit Meerganj on hold.

GLOBAL MARKETS 

Asian shares rose on Tuesday, along with bonds, boosted by dovish Federal Reserve remarks, while oil prices edged down after Monday's surge, with the market remaining focused on the conflict in the Middle East.

(With agency inputs)

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