Sensex rises 200 points, Nifty crosses 10,850; Infosys, Axis Bank, Tata Motors top gainers

The Sensex and Nifty opened higher in trade today supported by a rally in Asian markets amid reports that trade talks between US and China could be extended to a third day.  While the Sensex opened 200 points higher at 36,181, the Nifty gained 63 points to 10,865 in early trade.

Of 30 Sensex stocks, 26 were trading in the green.

Sensex rises 200 points, Nifty crosses 10,850; Infosys, Axis Bank, Tata Motors top gainers

Infosys (2.84%), Axis Bank (1.52%), Tata Motors (1.25%) and Maruti (1.22%) were the top Sensex gainers.

Top Sensex losers were Tata Steel (0.40%), IndusInd Bank (0.39%), and YES Bank (0.52%).

On Tuesday, the BSE Sensex closed up 130.77 points at 35,980.93, while the NSE Nifty settled 30.35 points higher at 10,802.15.

Meanwhile, the mid cap and small cap indices were trading 58.70 points and 50.49 points higher in early trade.

Market breadth was negative with 914 stocks trading higher compared to 1381 falling on the BSE.

IT and auto stocks led the gains with their respective BSE indices rising 140 points to 14,179 and 123 points to 20,090.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 553.78 crore on Tuesday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 698.17 crore, provisional data available with BSE showed.

The rupee opened 15 paise higher against the dollar in trade today.

The Indian currency started the day at 70.05 per dollar compared to its previous close of 70.20.

Global markets

Stocks climbed for the third day in a row Tuesday as the latest round of trade talks between Washington and Beijing continued. It’s the longest winning streak for US indexes since late November.

The S&P 500 index rose 24.72 points, or 1 percent, to 2,574.41. The Dow Jones Industrial Average picked up 256.10 points, or 1.1 percent, to 23,787.45.

The Nasdaq composite climbed 73.53 points, or 1.1 percent, to 6,897. The Russell 2000 index of smaller-company stocked gained 21.19 points, or 1.5 percent, to 1,426.55.

Oil prices also continued to rally. US crude rose for the eighth day in the last nine, jumping 2.6 percent to $49.78 per barrel in New York. Brent crude, used to price international oils, gained 2.4 percent to $58.72 a barrel in London.

source: businesstoday