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Sensex opens over 100 points higher, Nifty inches closer to 10,800-mark

At 9:15 am, the S&P BSE Sensex was trading 111.87 points (0.31 per cent) higher at 36,599.15, while the Nifty was at 10,790.70, up 27.05 points (0.25 per cent).




The topline equity indices on the BSE and National Stock Exchange (NSE) opened marginally higher on Tuesday.

At 9:15 am, the S&P BSE Sensex was trading 111.87 points (0.31 per cent) higher at 36,599.15, while the Nifty was at 10,790.70, up 27.05 points (0.25 per cent).

On Monday, the Sensex had ended at 36,487.28, up 465.86 points (1.29 per cent), while the broader Nifty 50 had settled 156.30 points (1.47 per cent) higher at 10,763.65.

In the morning trade on Tuesday, the gains on the Sensex were led by Infosys, Bajaj Auto, Bajaj Finance, Asian Paints, Maruti Suzuki India and HCL Technologies. On the other hand, Power Grid, Oil and Natural Gas Corporation, ITC, NTPC, Tata Steel and Mahindra & Mahindra (M&M) were the top drags in the early morning trade. (see heatmap below)

Among the sectoral indices, the Nifty IT index was up over 1.5 per cent led by gains in NIIT Technologies, Infy and MindTree. On the other hand, the Nifty PSU Bank was down over 1 per cent weighed by Canara Bank, UCO Bank and Bank of Baroda.

Here’s how the sectoral indices were performing:

Global markets

Asian shares paused for breath on Tuesday following a surge sparked by speculation Beijing is trying to orchestrate a major domestic bull run to support an economy hit by the coronavirus and a standoff with Washington.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last down 0.25 per cent, a seemingly inevitable correction after sharp gains of 7 per cent in just five days that took it to a 4-1/2-month high.

Japan’s Nikkei gave up 0.7 per cent while U.S. stock futures shed 0.3 per cent in Asia after hefty gains on Monday in the wake of surging Chinese shares.

Analysts say jawboning by the Chinese government through a state-sponsored journal on the importance of “fostering a healthy bull market” is spurring the buying binge in mainland Chinese shares.

Bluechip CSI300 index of Shanghai and Shenzhen shares, which had gained more than 13 in the past five sessions, gained another 1.7 per cent, led by rises in tech sector.

– global market input from Reuters

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