Domestic equity benchmarks BSE Sensex and NSE Nifty started on a positive note Tuesday driven by gains in IT stocks amid positive global cues.
After jumping over 100 points in opening session, the 30-share index was trading 63.84 points, or 0.16 per cent, higher at 39,848.36 at 0930 hours. Similarly, the broader NSE Nifty was quoting 10.65 points, or 0.09 per cent, up at 11,933.35.
In the previous session on Monday, the BSE gauge settled 168.62 points, or 0.43 per cent, higher at 39,784.52. Similarly, the broader NSE Nifty rose 52.05 points, or 0.44 per cent, to settle at 11,922.70.
Top Sensex gainers in early session Tuesday include IndusInd Bank, HCL tech, ONGC, Tata Motors, TCS, Tata Steel and Infosys, rising up to 2 per cent.
While, Sun Pharma, M&M, Bharti Airtel, Axis Bank, HDFC and ICICI Bank fell up to 2.50 per cent.
Domestic indices extended gains as investors sentiment remained positive amid easing concerns over a global trade war after the United States dropped its threat to impose tariffs on Mexico, traders said.
Bourses in China, Japan and Korea were trading on a positive note in their respective early sessions.
Strengthening rupee and foreign fund inflow too kept the positive momentum in the market going, traders added.
In Monday’s session, foreign institutional investors bought equity worth Rs 216.20 crore, and domestic institutional investors purchased shares to the tune of Rs 170.62 crore, provisional data available with stock exchanges showed.
Meanwhile, the global oil benchmark Brent crude futures were trading 0.32 per cent higher at 62.49 per barrel.
Rupee rises 21 paise to 69.44 vs USD in early trade
The rupee appreciated by 21 paise to 69.44 against the US dollar in opening trade Tuesday, driven by weakening of the greenback and positive opening in domestic equities.
At the interbank foreign exchange market, the domestic unit opened at 69.49 against the dollar, then gained momentum and touched 69.44, up 21 paise over its previous close.
The rupee had settled at 69.65 against the US dollar Monday.
Forex dealers said, selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee.
On the other hand, rising crude oil prices restricted the rupee upmove.