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The BSE Sensex was trading 242 points or 0.40% higher at 61,185. Nifty50 was trading at 18,180, up 62 points or 0.34% at around 9.26 am.
Among the Sensex stocks, Tata Motors, ICICI Bank, Infosys,
, , rose about 0.5-1%. , , SBI, M&M, and also opened with gains.
On the other hand
, , HUL, , , and opened with cuts.
Sectorally, the Nifty PSU Bank rose 0.74% and Nifty IT surged 0.66%. Nifty Auto and Nifty Consumer Durables also opened higher whereas, in the broader market, Nifty Smallcap50 rose 0.37%, and Nifty Midcap50 advanced 0.17%.
“A significant trend in the global equity market now is the outperformance of the mother market US. The hope of a soft landing for the US economy is increasing and the market is responding to this. The positive sentiments are favourable for a pre-budget rally, too,” Chief Investment Strategist at
, said.
Global Markets
Wall Street surged on Monday as investors embarked on an earnings-heavy week with renewed enthusiasm for market-leading momentum stocks that were battered last year.
All three major stock indexes gained, with the Nasdaq leading the way, adding 2%. This with tech, up 2.3%, making it the best-performing S&P 500 sector. Tech was boosted by a 5% gain in semiconductor shares.
Japan’s Nikkei share average jumped more than 1.5% on Tuesday, erasing its losses since the Bank of Japan’s surprise policy tweak last month, with technology shares tracking Wall Street’s strength to lead the charge. The Nikkei rose 1.61% to 27,339.61 by the midday break.
Currency Watch
The Indian rupee fell 0.14% to 81.5 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, declined 0.20% to 101.93 level.
Crude Price
Crude oil prices rose slightly in early Asian trade on Tuesday in a market focused on prospects of demand recovery from top importer China and on the global economic outlook ahead of company earnings.
Brent crude had risen 0.01% to $88.19 per barrel, while US West Texas Intermediate (WTI) crude rose 0.12% to $81.72 per barrel.
(With inputs from agencies)
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