On Tuesday, the Sensex surged by 119.93 points, reaching 81,754.74 in early trading session. Meanwhile, the Nifty climbed 46.90 points to trade at 25,060.05
Within the Nifty index, several prominent companies, including BPCL, Tata Motors, Asian Paints, SBI and Shriram Finance were among the top gainers. On the other hand, Nestlé India, ONGC, and HDFC Life were among the top losers.
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Anand James, Chief Market Strategist, Geojit Financial Services, said, "Having reclaimed 24940, the prospects of achieving our initial target of 25100-25200 has now improved. An inside bar formation yesterday gives more credence to reversal moves. While it is fair to expect a regrouping of bears soon, especially near 25200, we will be prepared to ride a quicker run up, once above, aiming for 25390."
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "The ‘Sell India, Buy China’ strategy pursued by the FIIs recently appears to be coming to an end as indicated by the declining FII sell numbers and the profit booking in Chinese stocks, particularly those listed in Hong Kong. FIIs are selling on valuation concerns; DIIs are buying because they have deep pockets to buy and the pockets are getting deeper. This trend is likely to continue."
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