Sensex opens 194 pts higher, Nifty at 14,693; Bajaj Finance, Powergrid lead

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Indian benchmark indices, Sensex and Nifty, opened higher on Tuesday, undermining weak cues from Asian market. The BSE Sensex opened 194 points or 0.4 per cent higher at 49,354, and the NSE Nifty belled 56 points or 0.38 per cent higher at 14,693. Rate sensitive stocks, bank, realty and auto, will be in focus ahead of the RBI monetary policy announcement. The central bank is expected to maintain its dovish stance and keep key rates unchanged. Rising COVID-19 cases will continue to weigh on investor sentiment. The government move to curb the spread of virus would be keenly watched by investors. Among the individual stocks, shares of HDFC, Maruti Suzuki, SBI Cards, Panacea Biotec, Marico, Sobha, JSPL, Adani Ports, HDFC Bank, YES Bank, Bank of India will be focus today.

On Monday, Indian Stock markets ended lower as rising coronavirus cases across the country and a partial lockdown in Maharashtra rattled investors sentiment. The BSE Sensex closed 870 points lower at 49,159 and NSE Nifty lost 229 points to 14,637. During the day’s trade, Sensex crashed nearly 1,400 points after India recorded over 1 lakh coronavirus cases on Sunday, the highest single-day rise since the pandemic began last year. Out of 30 stocks on BSE, 25 ended in red, barring HCL Technologies, TCS, Infosys, Bharti Airtel and Tech  Mahindra, while Bajaj Finance, IndusInd Bank, State Bank of India, Axis Bank, Bajaj Finserv emerging as top losers, dropping between 4-6 per cent. On the sectoral front, realty and bank stocks were top losers, falling 3.62 per cent and 3.42 per cent, respectively. Bucking the trend, IT and Teck stocks emerged as top gainers, rising 1.96 per cent and 1.67 per cent, respectively.

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