Mumbai: Indian stocks again gained momentum in early trade on Tuesday amid positive global cues.
Indian equities started the session with a bullish trend as shares rose by 2%, led by gain in the banks, metal companies. The rupee also get stronger by 31 paise to 81.51 against the US dollar in early trade on Tuesday, tracking weakness in the greenback in overseas markets and a rally in domestic equities.
The 30-share index rose 1200 points, a surge of 1.78 per cent to 57,795, whereas Nifty50 went up 303 points, a 1.80 per cent surge to 17,200 levels at 9.25 IST on Monday.
JK Tyres, IndusInd Bank, Kotak Bank and M&M Financial Services were the main gainers where as Lupin, Heritage Foods, Emami and Ipca Lab were among the laggards on the 30-share index. Bandhan Bank, Bajaj Finance, Vedanta, Indigo, Eicher Motor and Adani Transmission were also trading in green today.
Hindalco, JSW Steel, IndusInd Bank and L&T were among the most active stocks in Nifty50 index.
Dow Jones also saw a steep rise 2.66 per cent to 29, 490 whereas S&P 500 rose 2.59 per cent to 3,678 on Tuesday morning. Japan’s Nikkei also went up 2.38 per cent to 26,840.
On Monday, foreign investors turned net buyers after a gap of eight days of being net sellers. The foreign portfolio investors bought equities worth 590.58, according to National Stock Exchange data. Domestic institutional investors sold equities worth Rs423 crore after nine-day net buying.
The yield on the 10-year bond rose 7 bps to 7.47 per cent during the session on Monday.
Benchmark BSE Sensex on Monday tumbled 638.11 points or 1.11 per cent to settle at 56,788.81. During the day, it tanked 743.52 points or 1.29 per cent to 56,683.40. Health care and telecommunication ended in the green. All the remaining indices ended in red with Bank, Auto and Metal leading the race to the bottom.
At 9.32 am, Sensex traded at 57,628.49 points, up 1,050pts points or 0.85 per cent, whereas Nifty traded at17,171.30 points, up 155.00 points or 0.91 per cent. Meanwhile, 45 of the Nifty 50 companies traded in the green this tuesday morning, National Stock Exchange data showed.
