Sensex trades flat, down 10 points at 76,480 on mixed political cues

Indian fairness indices on Tuesday opened within the crimson on mixed world cues. Frontline indices are buying and selling in a slim vary. At 9:45 a.m., Sensex was down 10 points at 76,480 and Nifty was up 2 points, at 23,261.

Broader markets are, nevertheless, exhibiting indicators of an uptrend on indicators of stability after BJP retained all main portfolios beneath its purview within the NDA authorities at the Centre.

The Nifty midcap 100 index is up 248 points or 0.47 per cent, at 53,483 and the Nifty smallcap 100 is up 71 points or 0.41 per cent, at 17,546. India VIX, an indicator of market volatility, is down 3.72 per cent, at 15.78 points.

Among the sector indices, Auto, IT, FMCG, Metal, Realty, and FMCG had been high gainers. Fin service and Banks are main laggards. L&T, M&M, Tech Mahindra, Nestle, ExtremelyTech Cement, Tata Steel, Sun Pharma, Titan and HCL Tech are among the many gainers.

However, Kotak Mahindra Bank, Asian Paints, JSW Steel and ICICI Bank are the highest losers. Asian markets are buying and selling in a slim vary.

There is a slight rise within the markets of Tokyo, Jakarta and Bangkok. At the identical time, Hong Kong and Shanghai are within the crimson. American markets closed within the inexperienced on Monday.

According to the market specialists, “A powerful pillar of help for this bull market has been the mutual fund business which is witnessing sustained inflows. The Rs 34,697 crore internet inflows into fairness funds in May and month-to-month SIP inflows touching Rs 20,904 crore in May point out that this home help to the market will proceed regardless of the FII promoting.”

They shortly added, “By conserving key portfolios with it, BJP indicators continuity in authorities insurance policies. This is a constructive sign from the market perspective.”

(With inputs from IANS)