Share Market Opening Bell! Sensex, Nifty open marginally higher; Shree Cement takes a beating after Q1 results

The Indian markets on Tuesday opened mildly higher, with both benchmark indices trading near life high levels, as Nifty was trading near 16,300 and Sensex above 54,450. 

The BSE Sensex gained over 58 points or 0.11 per cent higher to 54,461.3, while Nifty grew around 15 points or 0.1 per cent to 16,273 levels at the market open today. In the broader markets category, the mid-cap index surged by around 112 points or 0.4 per cent to 27.854 at open on Tuesday.     

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Similarly, another important index, Nifty Bank opened flat but in the green by 0.85 points to 36030 levels today at the market open.

Of 50 scrips on Nifty50, 23 advanced, 26 declined and one remained unchanged at the market open today. Banking and financial stocks aided the market most to surge, as Kotak Bank the top gainer by rising over 1 per cent in the early morning trade on Tuesday, followed by HDFC up almost 1 per cent. 

While other stocks such as Hindalco, Eicher Motors, and Titan also surged by around 1 per cent in the early morning trade today

On the contrary, Shree Cement opens as top index loser despite healthy Q1 earnings and decline by over 2 per cent at open today, followed by Power Grid, which is scheduled to release its quarterly results, is also down near 1 per cent and Hero MotoCorp also declined by around 1 per cent.

Britannia and Bajaj Auto are two of the top five laggards at open, which were marginally weak by around a quarter per cent on Tuesday.

Minutes after the market open, almost all sectoral indices gained, except for FMCG and Media index. The banking and financial sector along with pharma surged most in the early morning trade by half a per cent on Tuesday. 

On the global front, the US markets on Monday closed mixed as Dow Jones sees profit booking and loses 100 points while Nasdaq closes near an all-time high with gains of 25 points. While Asian markets on Tuesday opened in the green led by the Japanese 'Nikkei' which traded up 275 points.

Another important trigger for domestic markets was that Foreign Institutional Investors (FIIs) bought shares worth Rs 211.91 crore in cash and sold Rs 716.15 crore in index futures.

The Nifty on Monday closed with gains after seeing huge intraday volatility as local mutual funds booked profit while foreign investors turned buyers.