FIRST TRADE: Equity indices start higher tracking Asian markets, Sensex up 219 pts, Nifty near 25,200 levels

FIRST TRADE: Equity benchmarks in Tuesday's trade started higher tracking record gains on the Wall Street in the overnight trade. Nifty at the start traded with gains of 0.26 per cent or 64.9 at 25,192.85, while the Sensex was up 0.27 per cent or 218.96 points at 82,192.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "Going into the Q2 results season, the market has been expecting good numbers from IT and banking. HCL Tech’s  good results confirm the optimistic expectations and the banking results, particularly from the leading private banks, also are likely to be good. Unlike IT stocks where there is only limited valuation comfort, the banking stocks offer decent valuation comfort and, therefore, have the potential to move up from the present levels.

Oil prices have seen a sharp decline by as much as 3 per cent which shall be a boost for the markets. Nonetheless, the hardening of the CPI is worrisome and will push the RBI to defer the rate cut to 2025.

Prashanth Tapse, Senior VP (Research), Mehta Equities on the Nifty technicals said the Nifty continues to show resilience, with bullish momentum supported by positive global market trends and strong Q2 earnings from HCLTech. NALCO remains a top stock pick, with targets set between Rs. 237-250. 

Also, Hyundai IPO at Rs 28,780 crore size will steal the show today as the issue will be the first by the auto major in 2 decades.

Meanwhile, Asian markets traded mixed with Hang Seng down over 1 per cent, while Japan's Nikkei was in the green after a market holiday on the previous day.