FIRST TRADE: Indices open higher; Sensex up 283 pts, Nifty at 24,297

Indian equities in Tuesday's session opened higher opened higher after sharp gains over the past two trading sessions. At the open, Sensex was up 0.35 per cent or 282.85 at 80,392.7, while the Nifty opened higher by 0.31 per cent or 75.1 points at 24,297 amid across-the-board buying.

Across-the-board buying lifted sentiment on the Street for the third-straight day, with the only PSU Banking index in the red after yesterday's best one-day gain so far during the year.

market is unlikely to sustain beyond a point since earnings concerns are major headwinds. The impact of short covering and the positive sentimental effect of the Maharashtra election results will be temporary. Too much should not be read into the FIIs turning big buyers yesterday since that was due to MSCI rebalancing with higher weightage to HDFC Bank. Leading banks will remain resilient due to consistent buying and reasonable valuations."

Prashanth Tapse, Senior VP (Research), Mehta Equities held that eyes are now on FIIs, who have sold Rs. 30,999 crores this November—any short covering could see Nifty closing above 24,500 by the F&O expiry on 28th November. 

Wall Street’s rally and a dip in WTI crude below $69.50 on ceasefire hopes have boosted sentiment, he added.

Asian markets

Asian markets traded mixed with the Japan's Nikkei index down over 1 per cent as the US President Donald Trump's recent trade tariffs weighed on sentiments.