Sensex jumps over 300 pips in early trading; Stylish above 17300

 

 

The Sensex stock index rose more than 300 points in early trading Tuesday, following gains in the major indexes HDFC, Maruti Suzuki and ICICI Bank amid a largely positive trend in global stock markets.

 

Besides, traders said that the decline in global crude prices supported the market sentiment.

The 30-share BSE scale was trading up 317.22 points at 57,910.71. Similarly, the broader NSE Nifty index rose 93.45 points to 17,315.45 points.

 

Among the group of 30 stocks, UltraTech Cement, HDFC, Asian Paints, Bharti Airtel, Maruti Suzuki and ICICI Bank were the main gainers.

 

On the other hand, ITC, Tata Steel and NTPC were among the laggards.

 

In the previous trading, the BSE index rose by 231.29 points, or 0.40 percent, to settle at 57,593.49 points. NSE Nifty regained 69 points, or 0.40 percent, to 17,222.

 

Elsewhere in Asia, stock exchanges in Tokyo, Seoul and Hong Kong are trading in the green, while Shanghai is down slightly during mid-session trades.

 

Stocks in the United States ended higher on Monday.

 

Meanwhile, international oil benchmark Brent crude fell 1.30 percent to $111.02 a barrel.

 

Foreign institutional investors (FIIs) remained net sellers in the capital market, selling shares worth Rs 801.41 crore on Monday, according to stock exchange data.

 

“US stocks closed higher after a choppy session, despite concerns about an interest rate hike from the Federal Reserve… The drop in crude prices supported the market recovery across economies. The Nasdaq Composite jumped 1.31 percent, and the Dow Jones Industrial Average rose 0.27 in percent, while Mitul Shah, head of research at Reliance Securities, said the Standard & Poor’s 500 Index rose 0.71 percent.

(The title and image for this report may have been reformulated only by the Business Standard staff; the rest of the content is automatically generated from a shared feed.)

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