Mumbai: Equity Benchmark Sensex Major indices TCS, Maruti and Bajaj Finance jumped over 200 points in early trade on Tuesday led by gains in major indices TCS, Maruti and Bajaj Finance amid a largely positive trend in global markets.
The 30-share index was trading 228.13 points or 0.38 per cent higher at 60,366.59 in opening deals. Similarly, nifty It rose 73.50 points, or 0.41 percent, to 18,003.15.
NTPC was the top gainer in the Sensex pack, up nearly 3 per cent, followed by Maruti, power grid, Bajaj Finance, Bajaj Finserv, HUL and Titan.
On the other end, Sun PharmaIndusInd 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 per cent at 60,138.46 and the Nifty was up 258 points or 1.46 per cent at 17,929.65.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 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 reduction in its bond buying program starting this month. More important than the tapering announcement, which has already been discounted by markets, is the Fed’s response to inflation and rate hikes. But there will be possible signs.
“If there are signs of rate hike as expected ahead of the FOMC meeting, it could be negative for the markets. Otherwise, the market may remain resilient,” 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 per cent to $84.84 per barrel.
The 30-share index was trading 228.13 points or 0.38 per cent higher at 60,366.59 in opening deals. Similarly, nifty It rose 73.50 points, or 0.41 percent, to 18,003.15.
NTPC was the top gainer in the Sensex pack, up nearly 3 per cent, followed by Maruti, power grid, Bajaj Finance, Bajaj Finserv, HUL and Titan.
On the other end, Sun PharmaIndusInd 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 per cent at 60,138.46 and the Nifty was up 258 points or 1.46 per cent at 17,929.65.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 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 reduction in its bond buying program starting this month. More important than the tapering announcement, which has already been discounted by markets, is the Fed’s response to inflation and rate hikes. But there will be possible signs.
“If there are signs of rate hike as expected ahead of the FOMC meeting, it could be negative for the markets. Otherwise, the market may remain resilient,” 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 per cent to $84.84 per barrel.
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