Stock market today: The domestic equity market opened in the green on Tuesday, January 30, amid buying in almost all sectors. The S&P BSE Sensex gained around 180 points in the opening deals, while the NSE Nifty was above 21,800. Last seen, the 30-share index traded 130 points, or 0.18 per cent higher at 72,072.27, while the Nifty50 index traded at 21,777.50, up 40 points, or 0.18 per cent.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Among individual stocks, Bajaj Finance slipped over 4 per cent after the company released its Q3 results on Monday, post-market hours. Diversified conglomerate ITC Ltd shares were flat as its weaker-than-expected cigarette volume growth during Q3 dented investor sentiment.

It appears that the strong DII and retail support and the consequent resilience of the market are forcing FIIs to reduce their selling. The Fed commentary on Wednesday will influence US bond yields and, consequently, the FII strategy, notes Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Large caps like RIL, Bharti Airtel, L&T, and ICICI have the strength to support the market.

"In the near term, expectations regarding the budget will influence the market. The market doesn’t expect any major changes in taxation relating to the capital market. Therefore, any such proposal will have an impact on the market," the market expert added.

GLOBAL MARKET

Asian shares fell on Tuesday, hurt by the court-ordered liquidation of property giant China Evergrande, while rising geopolitical tensions propped up oil prices and kept a lid on risk appetite ahead of the Federal Reserve's meeting.

(With inputs from Reuters)