The two key equity benchmarks, Sensex and Nifty, on Tuesday opened in the green amid firm global trends. At 10.20 am, the BSE Sensex rose 279 points to 73,928. On the other hand, the NSE Nifty50 was trading at 22,412, up 75 points.


Stock Update


On the 30-share Sensex platform, Airtel, Titan, HCLTech, Tata Motors, SBI, JSW Steel emerged early gainers. On the down side, PowerGrid, L&T, ICICI Bank, M&M, Bajaj Finance, TechM were among the losers.


In the broader markets, the BSE Midcap and Smallcap indices advanced 0.39 and 0.67 per cent, respectively.


Sectoral Update


Sectorally, except metal, all other indices are trading in the positive zone, with realty index up nearly 3 per cent. Nifty Oil and Gas, Nifty IT, and Nifty Consumer Durables are also leading on the NSE.


In the previous session on Monday, the BSE benchmark jumped 560 points to close at 73,648, while the NSE Nifty50 jumped 189 points to settle at 22,336.


"The undercurrent of bullishness of this market has been reinforced by the market action during the last two trading days, which saw Nifty spiking by 486 points from Friday's lows. External factors like the high bond yields in the US (the 10-year continues above 4.6 per cent) and geopolitical concerns in the Middle East are not impacting the underlying bullish trend," said V K Vijayakumar, chief investment strategist, Geojit Financial Services.


Global Market Updates


In the Asian markets, Seoul, Tokyo, and Hong Kong posted gains, while Shanghai experienced a decline. Wall Street finished on a positive note on Monday.


The global oil benchmark Brent crude rose 0.38% to reach $87.33 per barrel.


Foreign Institutional Investors (FIIs) sold equities worth Rs 2,915.23 crore on Monday, reversing the previous day's temporary pause, according to data from the exchanges.


Rupee Gains 6 Paise


On the currency front, the rupee strengthened by 6 paise to reach 83.30 against the US dollar in early trading on Tuesday, buoyed by the strong performance of domestic equities.


In the interbank foreign exchange market, the local currency opened at 83.37 against the greenback, then reached 83.30 in initial trading, reflecting a 6 paise increase from its prior close.


On Monday, the rupee appreciated by 8 paise, closing at 83.36 against the US dollar.