Stock Market: Sensex Jumps Over 430 Points, Nifty Trades Above 15,950; Metal, Financials Lead

Stock update: Power Grid, Bajaj Finserv, Tech Mahindra, NTPC, Tata Steel, Infosys, ICICI Bank, and SBI were the major gainers in early deals on the BSE

In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, rising up to 0.7 per cent.

Source : Getty

The two equity benchmarks, Sensex and Nifty, on Tuesday opened in the green, tracking positive global cues.

At 10.15 am, the BSE Sensex rose 433 points to 53,668, while the broader NSE Nifty was trading at 15,964, up 128 points.

On the 30-share Sensex platform, Power Grid, Bajaj Finserv, Tech Mahindra, NTPC, Tata Steel, Infosys, ICICI Bank, and SBI were the major gainers in early deals. On the flipside, ITC and Larsen & Toubro were the laggards from the pack.

In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, rising up to 0.7 per cent.

On NSE, all 15 sector gauges were trading in the green. Sub-indexes Metal, Nifty Auto, and Nifty Financial Services were outperforming the NSE platform by rising as much as 1.17 per cent, 0.68 per cent and 0.69 per cent, respectively. Nifty PSBs and metals led gains, rising a per cent each.

The overall market breadth was positive as 1,730 shares were advancing, while 543 were declining on the BSE.

In their previous session on Monday, the BSE index had gained 326 points (0.62 per cent) to settle at 53,234 while the Nifty went higher by 83 points (0.53 per cent) to close at 15,835.

Elsewhere in Asia, markets in Tokyo, Seoul and Hong Kong were trading with gains, while Shanghai quoted marginally lower. The US markets were closed for a holiday on Monday.

Meanwhile, international oil benchmark Brent crude dipped 0.01 per cent to $113.49 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,149.56 crore on Monday, as per exchange data.

India's merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday.