Mumbai: Benchmark indices Sensex and Nifty traded higher on Tuesday morning, tracking gains in global equities, with banking, port and auto stocks supporting the advance.
The 30-share BSE Sensex opened 42.51 points higher at 74,901.50, while the NSE Nifty gained 39.75 points to 23,454.05. Later, the Sensex rose 115.62 points to 74,974.61, while the Nifty traded at 23,455.60.
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HDFC Bank, Adani Ports, Eternal, InterGlobe Aviation, Maruti Suzuki and Asian Paints were among the Sensex gainers. HCL Tech, Infosys, Tech Mahindra, Tata Consultancy Services and Sun Pharma traded lower.
South Korea’s Kospi, Shanghai’s SSE Composite and Hong Kong’s Hang Seng advanced, following a strong close on Wall Street on Monday.
V K Vijayakumar, Chief Investment Strategist at Geojit Investments, said recent cooling in crude prices and US 10-year bond yields had improved investor appetite for equities. Refunds following the NSE IPO could also bring additional liquidity into India’s secondary market, he added.
Brent crude, however, was trading 0.80 percent higher at USD 101.1 a barrel on Tuesday.
Ponmudi R, CEO of Enrich Money, said investors were weighing fresh escalation threats from Iran and the US against optimism over a possible meeting between US President Donald Trump and Iranian President Masoud Pezeshkian during the UN General Assembly this week.
Foreign institutional investors sold equities worth a net Rs 576.20 crore on Monday, according to exchange data.
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In the previous session, the Sensex gained 564.03 points, or 0.76 percent, to close at 74,858.99. The Nifty advanced for a fourth consecutive session, rising 67.90 points, or 0.29 percent, to 23,414.30.
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