Opening Bell: Sensex, Nifty open near flatline- auto and IT stocks lead the gain

The Indian markets opened Tuesday’s session near flatline with minor gains as the Sensex up over 36 points and the Nifty above 18100-mark. The surge was mainly led by the auto stocks, along with IT in the early morning trade.

The BSE Sensex jumped 36 points or 0.06 per cent to 60755, while the Nifty50 marginally gained 17.5 points or 0.10 per cent to 18127 at the market open. The broader markets outperformed the benchmarks, as the mid-cap index gained over 66 points or 0.21 per cent to 32095 at the open.

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Along with benchmark indices, Nifty Bank opened near flatline with a positive bias, however, slipped immediately after the market open and dragged the market most by 0.33 per cent along with financial stocks.

As many as 35 stocks gained, 14 declined and one remain unchanged on Nifty50 at the market open on Tuesday. ONGC become the top gainer, up 1.01 per cent, followed by UltraTech Cement, Hero Moto, and Coal India each up around 1 per cent at the market open on Tuesday.

Other stocks such as L&T, Tata Motors, Coal India, Adani Ports, and Maruti each gained between 0.5-1 per cent in the early morning trade today.

On the contrary, banking and financial stocks dragged the market most as HDFC slipped most by over 1 per cent followed by Asian Paints, Kotak Bank each dipped around 1 per cent. Similarly, Relaince, Hindalco, Tata Steel and Eicher Motor each declined marginally by 0.5 per cent at the open.

Almost all sectoral indices are in the green except for banking and financials along with pharm and realty in the early morning trade. Nifty Auto surged most by 0.7 per cent, followed by IT up 0.6 per cent. Similarly, in the broader markets realty and media index is leading the surge in mid and small-cap indices.