Mumbai, Oct 14 (NationPress) The Indian stock markets commenced on a positive note on Tuesday as investors chose to overlook global uncertainties stemming from the ongoing trade disputes between the US and China. They were also attentive to the quarterly earnings reports from various Indian firms.

The Sensex opened at 82,562, marking an increase of 235 points or 0.29 percent. Similarly, the Nifty commenced at 25,283, up by 55 points or 0.22 percent.

Notable gainers on the Sensex included HCL Tech, Tech Mahindra, Tata Steel, Infosys, Bharat Electronics, Bajaj Finserv, Ultratech Cement, ICICI Bank, Kotak Mahindra Bank, and Larsen & Toubro, with increases of up to 1.3 percent.

Conversely, stocks such as Eicher Motors, Maruti Suzuki, Axis Bank, Sun Pharma, State Bank of India, Bajaj Finance, and Bharti Airtel experienced early declines.

In the broader market, both the Nifty MidCap and Nifty SmallCap indices were in the green, appreciating by 0.37 percent and 0.38 percent, respectively.

Among sectoral indices, the Nifty Metal index led the gains with a rise of 1 percent, fueled by positive momentum in metal stocks.

Meanwhile, the Nifty Pharma index recorded the steepest decline, falling by 0.37 percent.

Experts suggest that IT stocks, particularly large caps, are perceived as overvalued by the market due to several headwinds and significant structural concerns.

“In contrast, PSU stocks have been trading at low valuations despite exhibiting decent growth and strong balance sheets. This valuation anomaly has been addressed by the market, and this trend is expected to persist,” market analysts noted.

“However, growth sectors like digital companies and renewable energy will continue to draw investments due to their long-term potential, even if their current valuations appear high,” they added.

With the Muhurat trading session approaching, analysts anticipate a potential for a mild rally.