NTPC was the top gainer in the Sensex pack, followed by Maruti, PowerGrid, Bajaj Finance, Bajaj Finserv, HUL and Titan.
Equity benchmark Sensex jumped over 200 points in early trade on Tuesday led by gains in index majors TCS, Maruti and Bajaj Finance amid largely positive trend in global markets.
The 30-share index was trading 228.13 points or 0.38% higher at 60,366.59 in opening deals. Similarly, Nifty rose 73.50 points or 0.41% to reach 18,003.15.
NTPC was the top gainer in the Sensex pack, rising 3%, followed by Maruti, PowerGrid, Bajaj Finance, Bajaj Finserv, HUL and Titan.
On the other hand, Sun Pharma, IndusInd Bank, Tech Mahindra, Tata Steel and Kotak Bank were among the laggards.
In the previous session, the 30-share index was up 831.53 points or 1.40% at 60,138.46 and the Nifty was up 258 points or 1.46% at 17,929.65.
Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth ₹202.13 crore on Monday, according to exchange data.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “The Nifty rise by 258 points on Monday, despite several days of continuous selling by FIIs, has again proved that FII selling can only affect the market in the short term. might.”
Retail and DII enthusiasm is getting fundamental support from positive economic data such as record GST collections (Rs 1.3 lakh crore in October), PMI at 55.9 in October and better-than-expected second quarter results, he said.
Also, a key event that could impact financial markets globally is the Federal Open Market Committee (FOMC) meeting starting later in the day.
“The Fed is widely expected to announce a easing of its bond buying program starting this month. More important than the tapering announcement, which has already been discounted by markets, is the Fed’s account of inflation. There will be potential hints on response and rate hikes.”
“If there are signs of rate hike as expected before the FOMC meeting, it could turn negative for the markets. Otherwise, the market may remain resilient,” Mr. Vijayakumar said.
Elsewhere in Asia, shares in Shanghai and Tokyo were trading with losses in mid-session deals, while Hong Kong and Seoul were positive.
Stock exchanges in the US also closed with gains in the overnight session.
Meanwhile, international oil benchmark Brent crude rose 0.15% to $84.84 a barrel.
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