Morning Bell: Sensex, Nifty open flat, Emami slips 3 per cent

Markets opened flat on Tuesday with Sensex up by 38.88 points at 39722.17, while Nifty is up 16.60 points at 11941.40. About 633 shares have advanced, 272 shares declined, and 45 shares are unchanged. Emami, HPCL and IOC were losers in early trade.

Top Sensex gainers include Yes Bank, Vedanta, Coal India, Sun Pharma, Bajaj Auto, IndusInd Bank, PowerGrid, Tata Steel, Axis Bank, L&T, Reliance Industries and Tata Motors, rising up to 3.75 per cent.

While, HDFC, Hero MotoCorp, SBI, HUL, Kotak Bank, Bharti Airtel, Bajaj Finance, HCL Tech, ICICI Bank and ITC fell up to 1.02 per cent.

Market mood has been euphoric since the BJP-led National Democratic Alliance (NDA) won the general elections.

According to Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management, this past week’s events reinforce a positive view on markets in the longer term.

“Given the large amount of groundwork already in place, we expect the next five years to surprise to the upside on earnings, once remaining PSU bank issues are resolved,” he said.

Positive cues from global markets and sustained foreign fund inflow too boosted investor sentiment here, traders said.

On Monday, Markets opened on a flat start with Sensex up by 1.36 points at 39436.08, and the Nifty down 4.20 points at 11839.90. However, both Sensex and Nifty ended on a higher note at 39,683 and 11,925 respectively.

At the beginning of morning session, top Sensex gainers include NTPC, Tata Steel, Yes Bank, SBI, PowerGrid, L&T, M&M, ITC, HDFC Bank, Maruti, Axis Bank, Infosys, HDFC twins and ICICI Bank, rising up to 4.53 per cent.

While, Bharti Airtel, Asian Paints, IndusInd Bank, RIL, Tata Motors, ONGC and Sun Pharma fell up to 1.63 per cent. In the previous session on Friday, the Sensex shot up 623.33 points, or 1.61 per cent, to end at 39,434.72, while the broader NSE Nifty surged 187.05 points, or 1.60 per cent, to 11,844.10.