Equity Indices Open Higher Tracking Positive Global Cues
Automakers Maruti Suzuki, Tata Motors and Eicher Motors gained by 1.3 per cent, 1.1 per cent and 1 per cent respectively while IT major added gains of 1.6 per cent at Rs 725.25 per scrip.
Photo Credit : Umesh Goswami
Equity benchmark indices added handsome gains during early hours on Tuesday, tracking positive sentiment in the global markets with the easing of trade worries and uncertainty on Brexit.
At 10:15 am, the BSE S&P Sensex was up by 283 points to 41,222 while the Nifty 50 gained by 76 points at 12,130. All sectoral indices at the National Stock Exchange were in the green with Nifty IT up by 1.3 per cent, metal by 1.2 per cent and auto by 0.7 per cent. Among stocks, metal major Vedanta was the top winner with gains of 2.8 per cent at Rs 151.35 per share. Tata Steel was up by 1.9 per cent and JSW Steel by 1.5 per cent.
Automakers Maruti Suzuki, Tata Motors and Eicher Motors gained by 1.3 per cent, 1.1 per cent and 1 per cent respectively while IT major added gains of 1.6 per cent at Rs 725.25 per scrip. Tech Mahindra too ticked up by 1 per cent.
However, those which lost were GAIL, UPL, ONGC, NTPC and IndianOil Corporation.
Meanwhile, Asian shares rose to their highest in more than a year as trade deal optimism and Wall Street's run to all-time highs supported sentiment.
The mood carried MSCI's broadest index of Asia Pacific shares outside Japan up by 0.6 per cent to its highest since July 2018.
Japan's Nikkei hit its firmest in more than a year while Hong Kong's Hang Seng rose almost a per cent. Korea's Kospi stood at its highest since May and Shanghai blue chips rose by 0.6 per cent.
The preliminary deal between Washington and Beijing will double US exports to China, White House Adviser Larry Kudlow said a day earlier. The United States will also reduce some tariffs on Chinese goods under the agreement.