Nifty, Sensex opens with gains on Tuesday as market bounces back from oversold territory
Live MintMumbai, : Indian stock markets opened flat on Tuesday, with selling risk still remaining in the markets, but the markets are in the oversold category. The Nifty 50 index opened at 23,165.90 points with a gain of 79.95 or 0.35 per cent, while the BSE Sensex opened flat at 76,335.75 points with a gain of 5.74 points or 0.01 per cent. Ajay Bagga Banking and Market Expert stated that "After getting buffeted by a falling Rupee, persistent FPI selling, weak economic data and challenging global cues, today looks like a technical bounce day from hugely oversold levels. In the sectoral indices on the National Stock Exchange, except Nifty IT and Nifty FMCG, all other indices surged, with Nifty Realty gaining more than 1.68 per cent, Nifty Media up by around 2 per cent, and Nifty PSU Bank gaining 2.37 per cent at the time of filing this report. The other Asian markets witnessed mixed trends, with Japan's Nikkei 225 and Singapore's Strait Times declining, while Hong Kong's Hang Seng Index, Taiwan Weighted Index, and South Korea's KOSPI surged at the time of filing this report.