Markets open higher: Sensex up 247 pts, Nifty crosses 24,700-mark as Titan, Asian Paints, Power Grid shares lead

The Indian benchmark indices opened on a positive note, despite mixed global cues, on Tuesday. The BSE Sensex rose by 247.65 points, or 0.31%, to 80,612.59, and the NSE Nifty crossed the 24,700-mark, hovering at 24,710.50, rising by 0.31%. The rise in Indian equities followed the Gift Nifty index closing at a 54-point premium, or 0.22%.

Leading the bourses was Titan, which soared by 2.11%, and is trading at ₹3,473.00 apiece at the time of writing this report. Asian Paints took the second spot, rising by 1.72%, followed by PowerGrid, up by 1.35%.

Interglobe Aviation, Indigo’s parent company, had a dismal debut in the Nifty50 index, starting its first session as a top laggard. The budget airline’s shares were trading 1.71% lower, at ₹5,609.50 apiece. The other newcomer, Max Healthcare, noted a muted start, rising by 0.07%, at ₹1,110. Companies that are out of the Nifty50 universe, HeroMotocorp and IndusInd Bank, were trading higher than their closing price by 1.3% and 0.27%, respectively. Other laggards were ITC and Eternal, both declining by 0.35% each.

In sector-wise indices, all except FMCG, realty, media, and consumer durables were trading in the green. Nifty PSU Bank was the top performer, rising by 1.15%. Nifty Media was the top laggard, declining by 0.57%.

Out of the 50 constituents of the Nifty index, 41 advanced, and 9 declined. On the BSE Sensex index, 24 stocks were gainers, and 6 were losers.

Out of the 2,606 stocks on the NSE, 1832 stocks advanced, 702 stocks declined, and 302 stocks remained unchanged. On the BSE, 3063 stocks were actively trading, with 1819 advancing, 1105 declining, and 139 remaining unchanged.

Investors would be looking forward to the developments from the Monetary Policy Committee and tracking the September derivatives expiry.