The Indian equity market continued its positive momentumduring Tuesday's intra-day trade.
The market's up-move comes after global cues subduedinvestors' sentiments. Subsequently, investors dived into the market to buystocks in decline which triggered another uplift.
Amongst sectors, some losses were witnessed in the Metal,Auto and Realty indices. However, IT, Banking and Financial Services spacestraded in the green. Besides, FIIs continued their buying streak, at the sametime, DIIs continue selling.
At 2.15 p.m., the NSE Nifty50 traded at 14,167.20 points,higher by 34.30 points, or 0.24 per cent, from its previous close.
Similarly, the BSE Sensex made gains. It traded higher by164.83 points, or 0.34 per cent, at 48,341.63 points from its previous close.
"The undertone of our market is so strong that it hasdigested the negative cues from global bourses and dips got boughtquickly," said Jay Purohit, Technical & Derivatives Analyst, MOFSL.
"This is a perfect buy on dips market until we seestrong sign of reversal on charts or from derivatives data."
According to Gaurav Garg, Head of Research at CapitalVia:"After the weak start market soon stabilised and has breached the day'shigh due to continued flow of the foreign funds in the market. New lockdown hasbeen imposed in UK following the increase in number of cases of new strain ofcoronavirus, which can also lead to a small correction in the market in thesecond half."
"After a massive rally, investors booked profit inmetal stocks while auto and PSU banks also dragged benchmark indices on Tuesdayamid weak and uncertain global cues."