Mumbai: Benchmark equity indices rallied in early trade on Tuesday amid optimism in the US markets and positive domestic macroeconomic data points. The 30-share BSE Sensex jumped by 300.79 points to reach 63,025.50 in early trade. The NSE Nifty climbed by 82.7 points to reach 18,684.20.
The 30-share BSE benchmark climbed by 99.08 points or 0.16 percent to settle at 62,724.71 on Monday. The Nifty advanced by 38.10 points or 0.21 percent to end at 18,601.50. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 626.62 crore on Monday, according to exchange data.
From the Sensex pack, Asian Paints, ITC, Hindustan Unilever, Axis Bank, Titan, Nestle, Bajaj Finserv, Tata Steel, Infosys, and Bajaj Finance were the major gainers. Kotak Mahindra Bank and HCL Technologies were the laggards.
In Asian markets, Seoul, Tokyo, and Hong Kong were trading in the green, while Shanghai quoted lower. The US markets ended in positive territory on Monday. Global oil benchmark Brent crude climbed 0.72 per cent to USD 72.36 a barrel.
"Markets may usher in gains in early Tuesday trade amid a sharp rally in overnight US markets even though Asian gauges are trading mixed. Markets are growing hopeful about the US economy and the interest-rate picture and are counting on a pause in interest rate hikes by the Federal Reserve. Fed's decision to pause on interest rates hinges on the inflation data to trickle in later today," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said in his pre-opening market comment.
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