Sensex gains 67 points, Nifty opens at 17,730; broader markets outperform

Domestic markets opened slightly higher on Tuesday amid worries over weak performance by IT companies, as Infosys and TCS results spooked investors in the previous session.

BSE benchmark Sensex opened 66.9 points, or 0.11 per cent higher to 59,977.65, while broader NSE’s Nifty50 jumped 23.45 points, or 0.13 per cent to 17,730.30. This was Sensex on Monday snapped its nine-day winning streak, after Infosys’ biggest fall since March 2020 led to the correction in domestic equities.

Below-than-expected earnings by IT majors have fuelled concerns for the sector, which has been dragged down by the global banking crisis, recessionary fear, and tech spending.

Infosys during the opening trade gained 0.23 per cent to trade at Rs 1,260.95 at BSE.

Broader markets outperformed key indices in the opening trade, as Nitfy Smallcap 50 gained 0.53 per cent, while Nifty Microcap 250 jumped 0.42 per cent, followed by Nifty Smallcap 100 at 0.39 per cent, and Nifty Next 50 at 0.37 per cent.

After yesterday’s big plunge, Nifty IT jumped 0.06 per cent today, meanwhile, Nifty Realty gained 0.52 per cent at open, followed by PSBs at 0.44 per cent.

Tata Motors, HDFC Life, IndusInd Bank, HCLTech, Nestle India, Adani Enterprises, Kotak Mahindra and Maruti Suzuki were among the top gainers at open.

Meanwhile, Sun Pharma, Wipro, Tech Mahindra, Hindustan Unilever, Titan, Power Grid, Cipla, and Hero Moto Corp were among the top losers.