Stock Market Opening Bell: Sensex Jumps 50 Points, Nifty Above 12,270

Equity benchmarks BSE Sensex and NSE Nifty started on a cautious note on Tuesday. It is to be noted that in early trade, BSE Sensex traded 50 points higher at 41,685 and NSE Nifty rose 20 points higher to 12,282. YES Bank, IndusInd Bank, Zee Entertainment, Mahindra & Mahindra and Hero MotoCorp were among top gainers in the Sensex pack. Whereas, HDFC Bank, HCL Tech, Tech Mahindra, Wipro and Infosys were the top laggards.

On the other hand, all the Nifty sectoral indices, except Nifty IT index, were trading in the green. As per the latedt update, Nifty PSU Bank index was up 0.6 per cent while Nifty Auto and Nifty Metal indexes climbed 0.5 per cent each.

In the broader market, the S&P BSE MidCap index rose 22 points, or 0.15 per cent, and the S&P BSE SmallCap index was up 37 points, or 0.2 per cent.

Meanwhile, on the currency front, Indian rupee weakened for the fourth session against US dollar amid thinly traded volumes ahead of Christmas holidays. The Indian currency was trading at 71.23 a dollar, down 0.05 per cent from Monday's close of 71.19. The Indian unit had opened 71.21 a dollar.

On Monday, Sensex and Nifty closed marginally lower as emergence of sell-off mainly in heavyweight Reliance Industries put the brake on indices’ four-session record-breaking run. The 30-share BSE Sensex settled 38.88 points, or 0.09 per cent, down at 41,642.66, while the broader NSE Nifty slipped 9.05 points, or 0.07 per cent, to close at 12,262.75.

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Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index. Reliance Industries (RIL) fell 1.78 per cent after the government sought to block the company’s plan to sell stake to Saudi Aramco.

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