Indian Stock Markets Show Gains Amid Global Volatility

Indian stock markets opened higher on Tuesday with Nifty 50 and BSE Sensex both showing gains. Experts expect volatility due to impending Fed rate cut. Key sectors like Nifty Media led the gains, while markets globally showed marginal positive movements following a recent decline.

The Indian stock markets opened with gains on Tuesday, demonstrating resilience against global uncertainties. The Nifty 50 index commenced at 25,007.90, up by 71.50 points or 0.29%, while the BSE Sensex climbed by 209 points or 0.26% to 81,768.72 points in the opening session.

According to market experts, global markets recovered slightly after last week's decline, though volatility is expected as the Federal Reserve's rate cut decision looms on September 18th. 'The US market saw a relief bounce, with Big Tech stocks recouping some recent losses. Asian markets are following suit with a positive trend. However, persistent concerns such as economic slowdown, falling commodity prices, rate hikes by the Bank of Japan, overextended global markets, and the imminent Fed rate cut continue to overshadow market performance. We anticipate more volatility leading up to the Fed's announcement,' said Ajay Bagga to ANI.

Among the Nifty 50, 37 stocks opened with gains, while 13 stocks were in the red. Broader market indices like Nifty Midcap 50, Nifty Midcap 100, and Nifty Smallcap 100 surged by over 1% during the opening session. Sector-wise, Nifty Media led gains with a 1.53% rise, followed by Nifty Pharma. Nifty Auto and Nifty Bank displayed marginal gains.

'We expect the pullback to persist as long as the market trades above the 20-day simple moving average of 24,800/81,000. On the higher side, targets could reach 25,000/81,800 and 25,050/82,000. Reducing long positions at these levels is advisable. However, falling below 24,750/80,900 could be risky, prompting an exit from long positions,' stated Shrikant Chouhan, Head of Equity Research at Kotak Securities. Asian markets showed slight positive movement on Tuesday after Monday's sharp decline, with Japan's Nikkei up by 0.08% and Hong Kong's Hang Seng gaining 0.30%. Taiwan's index rose by 0.18%, and South Korea's KOSPI remained nearly flat.

European and US markets also advanced on Monday, with the US S&P 500 closing up by 1.35% and the Nasdaq rising by 1.34% by the end of trading. (ANI)

(With inputs from agencies.)