FIRST TRADE: Indices snap 7-day loss; Sensex up 271 pts, Nifty at 23,538

Indian equities successful Tuesday's commercialized aft 7 sessions of weakness traded mildly higher. Nifty astatine the unfastened was up 0.36 per cent oregon 84 points astatine 23,537.5, portion the Sensex gained 0.35 per cent oregon 271.42 points to 77,610.43.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "An important takeaway from the caller marketplace inclination is that a speedy and crisp betterment is not successful sight. The momentum that drove the marketplace to its grounds highest of 26,216 successful September is gone. There tin beryllium recoveries which are improbable to prolong fixed the selling mode of the FIIs and the concerns surrounding the anemic net maturation feared successful FY25."

At champion the marketplace whitethorn consolidate astir the  present levels with sideways movements. Sustained up moves volition look lone erstwhile incoming information indicates net recovery, helium added.

A important inclination is the sustained weakness emerging successful a ample fig of mid and smallcaps. Hundreds of specified stocks, which had tally up of fundamentals, and driven by momentum are reverting to mean. Investors request not unreserved successful to drawback these stocks which person much downside potential. In contrast, prime largecaps are resilient and investors tin instrumentality to them."

Nifty outlook:

Anand James, Chief Market Strategist, Geojit Financial Services said, "Attempts to propulsion higher seen yesterday were weak, resigning Nifty to the seventh time of antagonistic close, the longest agelong of consecutive reddish candles since the ongoing downtrend began connected 27th Sep. Nevertheless, we volition clasp revival hopes, with RSI appearing bottomed out, but volition bounds upside people to 23733-88 for now, awaiting further signals for the 24111 move. Alternatively, inability to interval supra 23565 could hold betterment moves, but a illness is little expected today."

Asian markets

The cardinal MSCI ex Japan scale traded with gains of 0.85 per cent astatine 582.43. Barring the Shanghai Composite, each the large Asian markets traded successful the green, witn the Jakarta Composite and Taiwan Weighted indices up implicit 1 per cent each.

The gains were mostly fuelled arsenic tech stocks led tracking gains successful the overnight league successful the US.