SENSEX OPENS FLAT,NIFTY ABOVE 9300 | TODAY STOCK MARKET TREND OUTLOOK 09 MAY 2017.

STOCK MARKET OUTLOOK

Benchmark indices opened in the green on Tuesday, with indices posting marginal gains and holding on to key milestones.

The 30-share Sensex was up 35.66 points at 29961.81, while the Nifty was up 11.50 points at 9325.55. The market breadth was healthy as 593 shares advanced against a decline of 179 shares, while 31 shares were unchanged.

Asian Paints, Hero MotoCorp, HDFC and Indian Oil were top gainers on both the indices, while Adani Ports, Bharti twins and Ambuja Cements lost the most.

On the global front, the S&P 500 ended flat on Monday after briefly touching a record high, while Wall Street's "fear gauge" dropped to its lowest in over two decades following centrist Emmanuel Macron's victory in the French presidential election.

The CBOE Volatility index dropped 7.6 percent to 9.77, its lowest since 1993 as investors took comfort from Macron's victory, as well as from strong quarterly reports in recent weeks.

A declining VIX typically indicates a bullish outlook for stocks, but the extreme lows the index has touched are sounding caution for some stock investors.

Asian equities were mostly muted after soaring in the previous trading session with investors focused on key regional events unfolding in the day, including a presidential election in South Korea and the release of the Australian federal budget.

Gold inched up early on Tuesday as Asian stocks eased, but was sitting near a seven-week low hit in the previous session as Emmanuel Macron's victory in French elections dampened the safe-haven appeal of the metal.

Meanwhile, following a successful IPO issue, S Chand and Company will be listing itself on the exchanges later in the day.

The IPO saw solid investor demand after it was oversubscribed 59.28 times at the close of its bidding hours.

The textbook publisher’s issue received bids for 45,56,00,794 shares against the total issue size of 76,85,284 shares, data available with the NSE showed.