Indian Markets Show Resilience; Green Shoots Indicate Year-End Rally

Indian stock markets opened flat yet are hinting at a year-end rally with mild consolidation. While Nifty 50 and BSE Sensex showed modest gains, the markets anticipate soft consolidation, preparing for potential upward movement by year's end, despite current global uncertainties.

Indian stock markets opened flat on Tuesday, echoing a broader rally across other Asian bourses. The Nifty 50 index began at 24,652.65 points, up by 33.65 points or 0.14 percent, while the BSE Sensex rose by 67.50 points or 0.08 percent to start at 81,575.96.

Market analysts suggest that the current phase of consolidation may persist, though fears of a downward trend amid the Syrian crisis have subsided. A potential year-end rally could emerge as central banks contemplate interest rate changes this week, with the U.S. Consumer Price Index (CPI) expected to influence the Federal Reserve's next steps.

In sectoral movements, Nifty Realty led gains with a rise of 0.75 percent, while 27 Nifty 50 stocks opened in the green. Despite this, 22 stocks declined, and 1 remained static. Leading gainers were Shri Ram Finance, Apollo Hospitals, BEL, Infosys, and HCL Tech, whereas M&M, ONGC, Bajaj Auto, Ultratech Cement, and Trent were the top losers. Akshay Chinchalkar of Axis Securities highlights the Nifty's price compression indicating potential future trending movements.

Meanwhile, other major Asian indices reported gains except for Taiwan's Weighted Index, which saw a minor decline. Japan's Nikkei stayed flat in positive territory, and South Korea bounced back with a 2 percent surge, recovering from political instability. Hong Kong's Hang Seng advanced over 1 percent, buoyed by upbeat sentiments about China's stimulus efforts. (ANI)

(With inputs from agencies.)