Sensex Rallies over 400 Points in Early Trade, Nifty above 7,050; ITC Surges Over 5 pct
MUMBAI: The BSE Sensex and NSE Nifty opened in green on Tuesday on account of mixed global markets. Sensex opened 151.32 points up at 23153.32, while Nifty opened 51.20 points up at 7,038.25.
9.32 am: Low level buying supported market sentiments in Tuesday’s trade. Sensex was trading 414.26 points at 23,416.26.
9.24 am: Sensex surged further, and was trading 376.05 points up at 23,378.05. Nifty was trading nearly 100 points up 7,086.60. Lupin was trading 0.51 percent up at Rs 1,761.
9.16 am: Sensex was trading 234.48 points up at 23236.48. Nifty was up 58.05 points at 7045.10. In the 50-share index, ITC, ICICI Bank, Axis Bank, BPCL and Bank of Baroda were up between 1.73 percent and 5.68 percent. On the other hand, ONGC, Kotak Mahindra Bank, Lupin, Mahindra & Mahindra and Dr Reddy’s were down between 0.53 percent and 1.92 percent.
9.15 am: Sensex opened 151.32 points up at 23153.32, while Nifty opened 51.20 points up at 7,038.25.
8.42 am: The BSE Sensex and NSE Nifty are likely to open higher on Tuesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global markets.
At 8.30 am (IST), SGX Nifty was trading 39 points, or 0.55 percent, up at 7,046.50.
Asian shares rose on Tuesday, bolstered by China’s monetary easing and downbeat manufacturing and service surveys that raised hopes of additional measures, though lacklustre U.S. and European data kept concerns about global growth momentum alive.
On Monday, the Dow Jones industrial average fell 123.47 points, or 0.74 percent, to 16,516.5, the S&P 500 lost 15.82 points, or 0.81 percent, to 1,932.23 and the Nasdaq Composite dropped 32.52 points, or 0.71 percent, to 4,557.95.
On Monday, the BSE Sensex started on a higher note and ended at 23,002, a fall of 152.30 points, or 0.66 percent. On the Budget day in 2015, the Sensex had gained 141.38 points.
The NSE Nifty too saw volatility, which ended at 6,987.05, down 42.70 points, or 0.61 percent. It hovered between 7,094.60 and 6,825.80.
Shares of Lupin and oil marketing companies (OMCs) will remain in focus on Tuesday. Drug major Lupin on Monday said its wholly-owned Japanese subsidiary, Kyowa, plans to set up a manufacturing plant at Tottori, Japan as part of expansion plans in the country.
OMCs cut petrol prices by Rs 3.02 per litre on Monday, but diesel rates were hiked by Rs 1.47 a litre – the second increase this month in line with global trends. State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on average oil price and foreign exchange rate in the preceding fortnight.
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