Sensex, Nifty open with gains, tracking Asian markets
Mumbai: The domestic markets opened with gains on Tuesday while tracking cues from strong Asian and American markets.Investors are monitoring and anticipating US Federal Reserve’s decision on policy rate change which is slated for Tuesday. An aggressive rate hike is expected along with the announcement of US inflation report.
In the morning trade, BSE Sensex went up 132 points to 62,263 while broad-based Nifty rose 38 points to 18,535.30 levels.
Some of the most active shares on BSE were KEC with a surge of 4.33 per cent, SW Solar with 4.76 per cent surge and Yes Bank with a 3.80 rise. Laggards were Phoenix, Cosmo First, JP Associates and GHCL.
Some of the gainers in Nifty during the morning session were Tata Motors, IndusInd Bank, Tech Mahindra, HCL Tech and Tata Steel. Among the laggards, Apollo Hospital, Power Grid, Hindustan Lever, NTPC and BPCL were with losses during the morning trade on NSE.
In Asian markets, Japan’s Nikkei and Hong Kong’s Hang Seng were gaining in the morning whereas Shanghai was with losses.
In European markets, CAC and Deutsche were gaining during the morning whereas FTSE was with losses.
In American markets, Dow Jones, Nasdaq, S&P 500 were gaining in the morning trade.
On Monday, domestic equity benchmark indices ended almost flat on Monday. The Nifty settled a tad below the 18,500 mark after hitting the day’s high of 18,521.55 in mid-morning trade. Negative global cues and foreign capital outflows dampened investor sentiment.
Investors were cautious ahead of the US Federal Reserve meeting later this week. IT, pharma and consumer durables stocks declined. On the other hand, PSU banks and oil and gas stocks advanced.
On Monday, rupee declined 35 paise to 82.63 against the US dollar in early trade as heavy selling pressure in domestic equities and a strong greenback in the overseas market weighed on investor sentiments. Besides, foreign fund outflows and rising crude oil prices in the international market impacted the domestic unit, forex traders said.
On Monday, Adani Total Gas shares added 0.46 per cent. The company announced the receipt of the letter of award from Convergence Energy Services for setting up and operating electric vehicle charging stations across various cities.
On Monday, MTAR Technologies rose 1.95 per cent after the company said that it has signed an MoU with Indian National Space Promotion and Authorization Centre (IN-SPACe) India for the design and development of a two-stage to low-earth orbit all-liquid small satellite launch vehicle.
The initial public offer (IPO) of Sula Vineyards received bids for 34.84 lakh shares as against 1.88 crore shares on offer, according to stock exchange data at 15:30 pm on Monday. The issue was subscribed 0.19 times. The IPO of Abans Holdings received bids for 7.70 lakh shares as against 1.28 crore shares on offer, according to stock exchange data at 15:30 IST on Monday.
