Continuing its winning streak for the seventh straight session, the benchmark indices Nifty set a new all-time high surging above 15600 levels, while Sensex jumped by 80 points and opened above 52000-mark on Tuesday.

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Zee Business Managing Editor Anil Singhvi decoding the market open today said, Nifty created history by touching new levels of 15630, however, it fell immediately by 25 points. 

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On the other hand, Singhvi said, Bank Nifty opened flat but positive, it grew by 33 points or 0.10 per cent higher to 35560.45. While the broader market’s Mid-cap index outperformed the benchmark indices at open, grew by half a per cent to 25915.85 at open on Tuesday, he added. 

Speaking about the Index gainers, Singhvi said, ITC, Bajaj Auto and ONGC became the top index gainers today with surging over one per cent each at the market open. However, Bajaj Auto is currently trading above three per cent as the company releases its May auto sales data. 

The banking and financial heavyweight HDFC Ltd is a major driver for the Nifty50 Index, the stock too opened one per cent higher today, said the market guru. Similarly, pharma majors such as Cipla opened in the green, while Divis Lab continued its gaining streak for the second consecutive day today. 

While the laggards during the open were Tata Steel, which was down around one per cent and UltraTech Cement down near one per cent, he added explaining the market at open today. 

In Futures and Opinion Singhvi pointed out, defence shares are surging amid positive news from the defence sector. The defence index is gaining by over three and a half per cent, led by BEL. 

Other companies that are helping the market to soar is ONGC up by around three per cent, Escorts gaining by over one and a half per cent as it releases its May auto sales data and Gujarat Gas, whose results are scheduled today, is also up by over one per cent, he added. 

Ashok Leyland fell by over one and a half per cent as the company expects its plant to be operational for only 5-10 days in June. Among other peers, Metal Index down minimal at open, especially steel stocks such as Tata Steel, SAIL and JSW Steel amid profit booking, he concluded.