Strong global cues are visible in the stock market.
New Delhi:
Stock Market Updates: On Tuesday, the domestic stock market opened with a strong lead amid strong global cues. Due to positive signals from global markets, the local stock markets also trended on Tuesday. In the early stages of trading, the Sensex climbed by over 200 points due to gains in key stocks such as Infosys, Reliance Industries and Asian Paints.
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The Bombay Stock Exchange (BSE) 30-share Sensex rose by 274.03 points, or 0.54 percent, to 50,669.11 points, and the broad-based National Stock Exchange (NSE) Nifty rose 75.10 points, or 0.50 percent, to 15,004.60 points.
Asian Paints was the biggest gainer among the Sensex stocks. There was an increase of about two percent in it. After this, Titan, Ultratech Cement, Bharti Airtel, Infosys, Reliance Industries and Mahindra & Mahindra continued to grow.
In contrast, the shares of Bajaj Auto, NTPC and State Bank were on the decline.
The BSE Sensex fell 397 points, or 0.78 percent, to 50,395.08 points and the NSE Nifty fell 101.45 points, or 0.67 percent, to close at 14,929.50 points at the end of the previous trading day. On Monday, foreign institutional investors sold net worth of Rs 1,101.35 crore in the capital market.
VK Vijay Kumar, chief investment strategist, Geojit Financial Services, said, “We are in a very turbulent phase right now. The market is currently reacting to the world’s major catalytic events. The most important catalyst in this is the bond acquisition in the US which has the potential to flow a lot of money. ‘
Selling increases in stocks due to increase in yield on bonds, while buying starts with decreasing yield. The market continues to fluctuate due to bears and short coverings. However, in other markets of Asia, business in the markets of Shanghai, Hong Kong, Tokyo and Seoul is running positively. In the last trading session, the stock market in the US was also profitable. Meanwhile, the global benchmark of crude oil, Brent crude, was down 0.83 percent at $ 68.31 a barrel.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)