Stock Market: Sensex Rises 170 Points, Nifty Goes Past 18,200 Amid Mixed Global Cues

Stock update: UltraTech Cement, Maruti Suzuki, Larsen & Toubro, NTPC, and ICICI Bank were among the winners on the S&P BSE

Sensex and Nifty, the two key equity benchmarks, on Tuesday erased early losses and bounced back in the positive zone tracking mixed global market trends.

At 10.30 am, the BSE Sensex rose to 61,315 by 170 points, while the broader NSE Nifty was trading at 18,213, up 53 points.

On the 30-share Sensex platform, UltraTech Cement, Maruti Suzuki, Larsen & Toubro, NTPC, and ICICI Bank were among the winners. On the flip side, Nestle, Power Grid, Sun Pharma, HCL Technologies, Wipro, Tata Consultancy Services, Reliance Industries, and Kotak Mahindra Bank were the major losers.

In the broader markets, Nifty SmallCap 100 and Nifty MidCap 100 indices surged up to 0.2 per cent.

Sectorwise, Nifty IT, Nifty Metal, and Nifty Realty indices slipped the most – up to 0.5 per cent. Nifty PSU Bank and Nifty Auto indices, however, gained up to 0.9 per cent.

Among individual stocks, shares of NDTV declined over 4 per cent as Adani Group's open offer to buy additional 26 per cent stake starts on Tuesday. Shares of JK Paper gained 4 per cent after the company acquired Horizon Packs and Securipax Packaging in a phased-manner for about Rs 578 crore.

Elsewhere in Asia, markets in Tokyo and Shanghai were quoting higher, while Seoul and Hong Kong were trading lower. Wall Street had ended lower on Monday.

In the previous session on Monday, the BSE benchmark declined 519 points (0.84 per cent) to settle at 61,144, while the NSE Nifty dropped 148 points (0.81 per cent) to end at 18,160.

International oil benchmark Brent crude was trading 0.49 per cent higher at $87.89 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 1,593.83 crore on Monday, as per exchange data.

Meanwhile, the rupee appreciated 14 paise to 81.65 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels.

Forex traders said foreign fund outflows and a muted trend in domestic equities weighed on the local unit and restricted the appreciation bias.

At the interbank foreign exchange, the domestic unit opened at 81.72 against the dollar, then gained further ground to touch 81.65, registering a rise of 14 paise over its previous close.

On Monday, the rupee depreciated by 5 paise to close at 81.79 against the US dollar.