Sensex rises over 200 points in opening deals, Nifty above 10,350-mark; banks, metals shine

At 9:15 am, the S&P BSE Sensex was trading at 35,186.42, up 224.90 points (0.64 per cent), while the broader Nifty 50 was up 75.30 points (0.73 per cent) at 10,387.70.




The benchmark equity indices on the BSE and National Stock Exchange (NSE) opened over 0.5 per cent higher on Tuesday led by gains in metals and banking stocks.

At 9:15 am, the S&P BSE Sensex was trading at 35,186.42, up 224.90 points (0.64 per cent), while the broader Nifty 50 was up 75.30 points (0.73 per cent) at 10,387.70.

On the Sensex, the gains in the early trade on Tuesday were led by Tata Steel, Axis Bank, ICICI Bank, NTPC, Ultratech Cement and IndusInd Bank. (see heatmap below)

Among the sectoral indices, the Nifty Metal index was the top gainer in the morning deals on Tuesday, rising over 2 per cent led by Jindal Steel & Power and Tata Steel. This apart, the key Nifty Bank index too was up over 1 per cent aided by gains in RBL Bank, Axis Bank and ICICI Bank.

Here’s how the sectoral indices were performing:

Global markets

Asian shares rose on Tuesday after data showed China’s manufacturing sector grew more than expected in June, a hopeful sign for a global economy still struggling to recover from the sweeping impact of the coronavirus crisis.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.9 per cent, while US stock futures, the S&P 500 e-minis, advanced 0.23 per cent.

Sentiment in the region, which got a boost from overnight gains on Wall Street thanks to strong housing data, got a further lift from a survey in China showing a quickening in activity in its vast factory sector.

The stock market in Australia, which has crucial economic links with China, rose 1.59 per cent, while shares in China gained 0.72 per cent.

Hong Kong stocks jumped 1.18 per cent, undeterred by the Chinese parliament’s passage of a security law that will increase Beijing’s control over the former British colony.

The Nikkei rose 2 per cent, shrugging off a larger-than-expected decline in Japanese industrial production.

Overall, however, Asian shares are still on course for a 7 per cent decline over the first half of this year, underscoring the severity of the pandemic-sparked losses and the challenges facing investors as global infections continue to rise in a blow to hopes of a quick recovery.

– global market input from Reuters

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