Sensex rises over 400 points in opening trade; Nifty test 17,000

Tata Steel was the top gainer in the Sensex pack, rising over 2%, followed by Kotak Bank, Axis Bank, Maruti, IndusInd Bank and SBI.

Equity benchmark Sensex rose over 400 points in early trade on Tuesday, tracking gains in major indices Reliance Industries, Kotak Bank and HDFC Bank amid a positive trend in global markets.

The 30-share index was trading 444.17 points or 0.78% higher at 57,191.31 in early deals. Similarly, Nifty rose 131.60 points or 0.78% to reach 17,043.85.

Tata Steel was the top gainer in the Sensex pack, rising over 2%, followed by Kotak Bank, Axis Bank, Maruti, IndusInd Bank and SBI.

On the other hand, Dr Reddy’s, Tech Mahindra, L&T, Bharti Airtel and HCL Tech were among the laggards.

In the previous session, the 30-share equity benchmark fell 949.32 points or 1.65% to 56,747.14 and the Nifty fell 284.45 points or 1.65% to 16,912.25.

Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 3,361.28 crore on Monday, according to exchange data.

Elsewhere in Asia, shares in Shanghai, Hong Kong, Seoul and Tokyo were trading with gains in mid-session deals.

Stock exchanges in the US also ended the overnight session on a positive note.

Meanwhile, international oil benchmark Brent crude rose 0.62% to $73.53 per barrel.

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