In early trade, the 30-share BSE Sensex climbed 173.65 points to reach 61,937.90 points.
Benchmark indices extended their winning momentum on Tuesday morning on sustained buying by foreign institutional investors and signs of easing recession fears in the US.
In early trade, the 30-share BSE Sensex climbed 173.65 points to reach 61,937.90 points. The NSE Nifty gained 54.35 points to reach 18,318.75.
Among Sensex firms, Bajaj Finserv, Tata Motors, Tata Steel, Titan, UltraTech Cement, Larsen & Toubro, Bajaj Finance, Axis Bank and HDFC were major gainers.
State Bank of India, HCL Technologies, ITC and Reliance Industries were the major laggards.
In Asian bourses, Tokyo and Shanghai were trading in the green, while Seoul and Hong Kong declined.
On Monday, US markets closed with a mixed trend.
“The biggest positive catalyst is that fears of a recession in the US seem to have eased. Also, helping sentiments would be the fact that FIIs bought shares worth Rs 2,124 crore, while domestic institutional investors (DIIs) also bought shares worth Rs 245 crore. Bought shares worth Rs. Prashant Tapase, Sr. VP (Research), Mehta Equities Ltd.
Foreign institutional investors (FIIs) were net buyers on Monday, buying shares worth Rs 2,123.76 crore, according to exchange data.
“There are three key factors driving the ongoing rally in the market: One, the better-than-expected strength of the US economy and growing confidence that the US will be able to avoid a worse recession.
VK Vijayakumar said, “Two, strong buying by FIIs, who have been consistent buyers during the last eight trading days. Third, macro indicators like strong GST collections, improvement in PMI, higher fuel consumption and good credit growth are driving the rally in fundamentals.” Support.” , Chief Investment Strategist, Geojit Financial Services.
Meanwhile, global oil benchmark Brent crude fell 0.42 per cent to USD 76.68 per barrel.
The BSE benchmark had closed at 61,764.25 on Monday, up 709.96 points or 1.16 per cent. The Nifty closed at 18,264.40, up 195.40 points or 1.08 per cent.
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