Equity Parameters Gain On Asian Cues, Reliance Up By 2.3%
BSE S&P Sensex was up by 498 points or 1.25 per cent to 40,370 while the Nifty 50 ticked up by 140 points at 11,848.
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Equity benchmark indices gained considerably during early hours on Tuesday as Asian stocks reversed some of their previous plunges amid efforts by Chinese officials to calm virus fears.
At 10:15 am, the BSE S&P Sensex was up by 498 points or 1.25 per cent to 40,370 while the Nifty 50 ticked up by 140 points at 11,848. Except for Nifty realty, all sectoral indices at the National Stock Exchange were in the green with financial service up by 1.24 per cent. Among stocks, index heavyweight Reliance Industries gained by 2.34 per cent at Rs 1,417.90 per share while Hero MotoCorp was up by 2.4 per cent at Rs 2,435 per share. Bharti Infratel, Hindalco, UltraTech Cement and HDFC Bank too edged higher by over 2 per cent each.
However, Yes Bank dipped by 3.75 per cent to Rs 34.65 per share. The other prominent losers included Eicher Motors, Bajaj Auto, Nestle India and Britannia.
Meanwhile, Asian stocks bounced, although market sentiment remained fragile, with Chinese officials making efforts to calm coronavirus fears. China's central bank has flooded the economy with cash while trimming some key lending rates.
MSCI's broadest index of Asia Pacific shares outside Japan rose by 1 per cent, led by gains in South Korea and Australia. Japan's Nikkei inched up by 0.1 per cent.