Sensex climbs as Bharti Airtel and Axis Bank shine

Mumbai, Sep 10: Indian equity markets saw a positive start with major stocks like Bharti Airtel, Axis Bank, Power Grid, Nestle, NTPC, Sun Pharma, HCL Tech, and Infosys leading the gains on the Sensex.

As of 9:45 a.m., the Sensex was up by 43 points, or 0.05%, at 81,605, while the Nifty had risen by 13 points, or 0.05%, to 24,950. Early trading also indicated a strong performance in midcap and smallcap stocks, with the Nifty midcap index increasing by 613 points, or 1.05%, to 58,960, and the Nifty smallcap index climbing by 167 points, or 0.88%, to 19,259.

Conversely, stocks such as Bajaj Finserv, M&M, Bajaj Finance, Kotak Mahindra Bank, IndusInd Bank, HDFC Bank, and TCS were among the top losers on the Sensex.

Market experts have identified a few key trends: First, there's noticeable weakness in mid and small cap segments; second, the banking sector, traditionally a laggard, is showing resilience and moving upward; and third, defensive sectors like pharmaceuticals and FMCG are gaining traction, signaling accumulation. These trends suggest a growing preference for quality investments.

Experts advise that the "buy on dips" strategy remains effective, and investors should align with prevailing market trends.

Almost all NSE indices were trading positively, with IT, PSU Bank, pharma, realty, media, energy, and infrastructure sectors leading the gains.

In the broader Asian markets, Tokyo, Hong Kong, Jakarta, and Seoul showed gains, while Bangkok and Shanghai saw declines. US markets ended on a positive note on Monday.