Stock Market: Sensex Rises 140 Points, Nifty Tests 17,900 Amid Volatility. PSU Banks Drag

Stock update: On the 30-share Sensex platform, NTPC, HUL, Tata Steel, L&T, HDFC, M&M were the early winners. Asia Paints, Wipro, Titan, Axis Bank, IndusInd Bank, Tata Motors emerged losers

The two key equity benchmarks, Sensex and Nifty, on Tuesday opened higher, supported by gains across index heavyweights like Hindustan Unilever, Tata Consultancy Services, Tech Mahindra, among others. However, the domestic indices trade flat after an hour tracking volatility.

At 10 am, the S&P BSE Sensex climbed 140 points to 60,831. On the other hand, the NSE Nifty50 was trading at 17,903, up 59 points.

On the 30-share Sensex platform, NTPC, HUL, Tata Steel, L&T, HDFC, M&M were the early winners. On the flip side, Asia Paints, Wipro, Titan, Axis Bank, IndusInd Bank, Tata Motors emerged losers.

Among individual stocks, shares of BEML gained over 1 per cent after it signed MoU with DMRC led SPV for Bahrain Metro. Besides, shares of IFL Enterprises surged over 2 per cent as the board plans to mull sub-division of the shares of the company.

In the broader markets, Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.1 per cent.

Sectorwise, Nifty Metal, Nifty Pharma, and Nifty FMCG indices were off to a good start, as it rose up to 0.5 per cent. On the flipside, Nifty Bank index was bogged down in trade.

In the previous session on Monday, the S&P BSE Sensex index declined 311 points to end at 60,692. On the other hand, the Nifty50 index gave up 17,850-mark to close at 17,845, down 100 points.

Meanwhile, the rupee depreciated 3 paise to 82.76 against the US dollar in early trade on Tuesday, weighed down by a strong American currency. Forex traders said the rupee is trading in a narrow range as a positive trend in domestic equities and easing crude oil prices supported the local unit and restricted the fall.

At the interbank foreign exchange, the domestic unit opened weak at 82.76 against the dollar, registering a decline of 3 paise over its last close. In the previous session on Monday, the rupee settled at 82.73 against the dollar.

Brent crude futures, the global oil benchmark, declined 1.11 per cent to $83.14 per barrel.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 158.95 crore, according to exchange data.