On BSE, market breadth was positive as 1,574 stocks were rising while 1,191 were falling.
New Delhi: Indian equity indices started a hiatus on Tuesday led by gains in information technology stocks after a sharp fall in the previous session. As of 9:25 am, the benchmark BSE Sensex jumped 516 points, or 0.92 per cent, to 56,922; While the broader NSE Nifty rose 134 points or 0.80 per cent to 16,977.
However, Asian stocks fell as investors contemplated the implications of a possible impending Russian invasion of Ukraine. America has warned that Russia may soon invade Ukraine.
In addition, global indices are in jeopardy as an alarmingly high US inflation has fueled speculation that the Federal Reserve may raise rates in March.
Overnight, the Dow Jones Industrial Average fell 0.49 percent, the S&P 500 fell 0.38 percent and the Nasdaq Composite was essentially flat.
On the domestic front, January’s retail inflation rate crossed the Reserve Bank of India’s (RBI) upper tolerance limit of 6 per cent for the first time in seven months and the wholesale price index remained in double digits – at 12.96 per cent – for the 10th consecutive month.
Mid- and small-cap stocks were trading on a positive note as the Nifty Midcap 100 index gained 0.05 per cent and small-cap stocks by 0.29 per cent.
On the stock-specific front, Wipro was the top Nifty gainer as the stock rose 1.94 per cent to Rs 552.20. Tech Mahindra, Infosys, Shree Cements and Titan were also gainers.
In contrast, Cipla, Eicher Motors, BPCL, IndusInd Bank and Tata Steel were among the laggards.
On BSE, the overall market breadth was positive as 1,574 stocks were rising while 1,191 were falling.
On the 30-share platform of BSE, TechM, Wipro, Titan, Infosys, Hindustan Unilever and Larsen & Toubro (L&T) were the top gainers, rising 2.31 per cent in their shares.
On Monday, the Sensex closed 1,747 points or 3 per cent lower at 56,406, while the Nifty was down 532 points or 3.06 per cent at 16,843.
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