First Trade: Sensex adds 86 points, Nifty at 23,786; Titan falls over 2%
Despite mixed Asian markets, Indian equities opened in the green with mild gains.
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Indian equities despite mixed Asian markets opened with mild gains?in Wednesday's session (February 5, 2025). At the start, Nifty gained 0.2 per cent or 46.9 points to trade at 23,786.15, while the 30-share BSE Sensex added?0.11 per cent or 85.54 points to 78,669.35.
Broader markets, meanwhile, continued to extend their previous day's sharp gains, with the Nifty Smallcap 100 index up over 1 per cent in early trade.
Sectorally, in a mixed show, FMCG, auto, pharma and realty indices traded in the red, while oil & gas and PSU Banks continued to lead the sectoral gainers, followed by metal and private bank stocks.
From the Nifty 50 basket, top gainers included stocks like ONGC, Coal India, Hindalco, Apollo Hospital and Bajaj Finance, while the laggards were Asian Paints, Titan, Tata Consumer Products, Britannia and HUL.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services pointed out that two factors are influencing the market trend now. One, the market perceives the Trump tariff threats as negotiating tools, which might not lead to a full-blown trade war. Two, the potential beneficial impact of the game-changing Budget is slowly sinking in the market.
Technical view
Anand?James, Chief Market Strategist,?Geojit Financial Services on the?Nifty outlook said, "?While we are content to have reached the target range that has been in play for over a week, the potential for even larger upside remains a fair possibility. However, having closed above the upper bollinger band while also within touching distance of the 50 SMA?for the first time since early January, we are tempted to consider the possibilities of a downswing first before a close above 23789 is seen."
?If dips thereof are contained above 23550, expect spikes to, but not exceeding 24020 or 24226, added James.
Asian markets
Asian markets were mixed in Wednesday's trade with Hong Kong's Hang Seng index, Singapore's Straits Times and Japan's Nikkei index trading in the red, while South Korea's Kospi and Taiwan Weighted traded with gains of up to 2 per cent.
Chinese stocks were reeling under pressure on the back of escalating US-China trade tensions, while investors took note of the higher-than-expected inflation data from South Korea and?the Philippines.
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