Indices open in green for fourth session; SENSEX up 113 pts, NIFTY50 at 25,113; Coal India top gainer

The Indian stock market opened with modest gains for the fourth straight session on Tuesday, October 7, buoyed by positive global cues and a rally in metal and oil & gas stocks.

The broader market was also seen trading higher in the early session, with both Nifty Midcap 100 and Nifty Smallcap 100 advancing 0.05% and 0.23%, respectively.

Among sectors, Nifty Oil & Gas led the gains, surging 0.67%, followed by Nifty Metal (0.35%) and Nifty Realty (0.14%). However, Nifty PSU Bank (-0.17%) and Nifty IT (-0.03%) were trading lower in the opening session.

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹313.7 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹5,036.39 crore worth of equities.

Globally, across Asia, equity indices traded higher on Tuesday, with Japanese markets continuing to outperform. Japan’s benchmark indices hit fresh record highs as the election of a fiscally dovish prime ministerial candidate tempered expectations of further interest rate hikes by the Bank of Japan.

However, due to market holidays in China, Hong Kong, and South Korea, overall trading volumes across Asia remained muted.

Japan's Nikkei was up 0.80%, while the Straits Times of Singapore was trading higher by 1%.

On Wall Street, the S&P 500 and Nasdaq closed at record highs on Monday, supported by optimism around artificial intelligence-related dealmaking, even as the US government shutdown stretched into its sixth day. The blue-chip Dow Jones, however, edged slightly lower.

The Dow Jones Industrial Average slipped 63.31 points, or 0.14%, to end at 46,694.97; the S&P 500 advanced 24.49 points, or 0.36%, to close at 6,740.28; and the Nasdaq Composite rose 161.16 points, or 0.71%, to settle at 22,941.67.

As many as 2,685 stocks traded on the NSE during the early session, among which 1,617 were trading in the green, 965 were trading in the red, and 103 shares remained unchanged.

This indicates that the market's breadth was favourable to advances.

Meanwhile, 73 stocks hit their one-year highs in the early trade, while 34 stocks touched their 52-week lows.

Further, 63 stocks also hit their lower circuits, while 23 stocks hit their upper circuits.

India VIX, the volatility gauge, was trading up by 1.88% at 10.39 levels.

Coal India was the biggest contributor, rising 1.65%, followed by Bajaj Finance (1.49%), ONGC (1.33%), Adani Enterprises (1.33%) and Power Grid (1.15%).