Mumbai: On Tuesday, benchmark stock indices including, the Sensex and Nifty initially experienced losses but later made gains amidst volatility. They opened nearly unchanged, reflecting the cautious sentiment in global markets as investors awaited a crucial vote by US lawmakers on raising the debt limit. At 9:45 am, the BSE Sensex rose by 101 points to reach 62,947, while the NSE Nifty50 traded at 18,632, up by 34 points. In the previous trading session on Monday, the BSE benchmark closed 345 points higher at 62,846, while the NSE Nifty reached a high of 18,641 before settling at 18,599, up 99 points.
Among the 30 stocks in the Sensex, ITC, Ultra Cemco, Kotak Bank, HCL, NTPC, and Titan were the early gainers, while Nestle, Tata Steel, Sun Pharma, HDFC, TechM, TCS, and SBI witnessed losses. In the broader markets, the BSE MidCap and SmallCap indices showed strength.
Sector-wise, the Nifty Metal index declined by 0.2 percent, the Realty index remained flat, and other sectors recorded marginal gains.
On Tuesday, MSCI's broadest index of Asia-Pacific shares, excluding Japan, increased by 0.4 percent in early trading. This followed a day off for US markets on Monday due to the Memorial Day holiday. However, the index has experienced a 1.3 percent decline so far this month. Australian shares showed a slight increase of 0.03 percent, while Japan's Nikkei stock index slipped by 0.28 percent after reaching a 33-year high. The decline was attributed to a cooling-off period after the market reacted positively to optimism surrounding the US debt deal and a weaker yen, which benefits Japanese exporters. Hong Kong's Hang Seng Index rose by 0.31 percent, while China's CSI300 Index dipped by 0.06 percent. In Asian trading, longer-dated US Treasuries rallied on Tuesday as bond traders responded positively to the agreement to suspend the US borrowing limit.