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New Indian Express

Equity indices open Tuesday's trading session on a muted but optimistic note

CHENNAI: Indian equity markets opened Tuesday's trading session on a muted but cautiously optimistic note, with benchmark indices showing marginal losses in early trade. Despite a negative start, broader market sentiment remains constructive, particularly in the midcap space. Index Snapshot at Open NSE Nifty 50 opened 34 points lower at 24,967, down 0.13%, and BSE Sensex began the session down 108 points at 82,068, a 0.13% dip Bank Nifty slipped 88 points to start at 55,484, down 0.16%. Nifty Midcap 100, however, outperformed with a gain of 60 points, or 0.11%, opening at 57,127.60 Despite the initial red ticks on frontline indices, midcap and broader market strength suggests underlying buying interest, even as markets consolidate after recent highs. Technical View Stock analysts say that Nifty managed to close above the psychological 25,000 level yesterday, but as long as the previous high of 25,116 holds, there's a small chance of a pullback that could test 24,462. Therefore any dip is likely to be short-lived, and the broader trend remains bullish unless key support levels are breached, they say. Sector & Stock Highlights Top gainers in Nifty 50 in the early session were Bharat Electronics, IndusInd Bank, Dr Reddy's Laboratories, Hindalco, and Shriram Finance These stocks led the charge on early buying interest, reflecting sector-specific momentum and strong investor confidence. While top losers in Nifty 50 included NTPC, Bajaj Finserv, Mahindra & Mahindra, Grasim Industries and Tata Motors. These names dragged down the index, showing profit booking or weakness amid lack of fresh triggers. However, heavyweights remained volatile in early trade and are expected to guide the broader index movement throughout the day. Market participants are closely tracking Q4 earnings, with several key companies set to report results today. This includes Life Insurance Corporation of India (LIC), Bharat Dynamics, Bosch, Carraro India, DCX Systems, EPACK Durable, NMDC, Gujarat Fluorochemicals, among others. These results will be crucial in determining short-term direction, particularly in stock-specific moves and sectoral rotation. Outlook The market appears to be in a consolidation phase near all-time highs, with rotational moves across sectors. The next few sessions will be guided by earnings announcements, macroeconomic cues, and global trends. Key support for Nifty remains at 24,462, and a hold above this level could provide the base for a fresh leg higher towards 25,500+ levels.