Indian Stock Markets Rebound Amidst International Gains

Indian stock markets reversed their recent downtrend as both the Nifty 50 and BSE Sensex opened higher. Analysts suggest a market consolidation and caution against expecting a rapid recovery. International markets exhibited mixed performances, with most Asian indices showing gains except China's Shanghai Composite, which declined slightly.

Indian stock markets showed signs of recovery on Tuesday, as both the Nifty 50 and BSE Sensex indices opened with gains, breaking the recent spell of losses. Nifty 50 surged to 23,529.55 points, gaining 75.75 points, while the BSE Sensex climbed to 77,548 points with a rise of 208.99 points.

Market analysts have observed signs of oversold conditions, though a swift return to higher levels for Nifty is not anticipated. The current sentiment suggests consolidation around existing levels. Akshay Chinchalkar from Axis Securities highlighted the importance of maintaining support within the 23,200 - 23,300 range for Nifty, with 23,680 as the immediate resistance.

Sectarian indices showed gains, with the Nifty Realty index leading at a 1.64% increase. Forty stocks on the Nifty 50 list opened strong, while 10 edged lower. Despite this bounce, V K Vijayakumar from Geojit Financial Services warns of a prolonged recovery, citing foreign investor selling and weak growth prospects for FY25.

Other Asian markets echoed growth trends, with notable gains in Japan's Nikkei 225, Hong Kong's Hang Seng, and South Korea's KOSPI index, alongside significant rallies in Taiwan. Contrarily, China's Shanghai Composite saw a decline, marking a divergence in regional market performances. (ANI)

(With inputs from agencies.)