Sensex Edges 200 Points Higher, Nifty At 10,400 Level; Tata Steel, Axis Bank Among Top Gainers

Tata Steel jumped over 4 per cent after it announced the March quarter earnings.

Representational Picture (AFP)

New Delhi, June 30: Domestic equity markets opened higher tracking firm global cues with the 30-stock index Sensex edging 213 points to hover around 35,170 levels and the broader benchmark index Nifty50 crossing the 10,400-mark on Tuesday. Also Read: 'The Worst Is Yet To Come, Covid-19 Not Even Close To Being Over', Warns WHO Chief Among the top Sensex gainers include Tata Steel, Axis Bank and NTPC . IndusInd Bank, Axis Bank, and Bajaj Finance were up 1 per cent each. Tata Steel jumped over 4 per cent after it announced the March quarter earnings. Tata Steel shares climbed around 4 per cent on the BSE on Tuesday, a day after the company posted a consolidated pre-tax loss of Rs 1,499.45 crore for the quarter ended March 31, 2020. Rupee opens higher at Rs 75.48 per dollar against Monday's close of Rs 75.58. On the result front a total of 596 companies including, Vodafone Idea, ONGC, and Sail, will release March quarter earnings on Tuesday. Meanwhile, Asian shares witnessed a rally on Tuesday after China's manufacturing data sector grew more than the estimated in June raising optimism of a recovery in the global economy. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.9 per cent, while US stock futures, the S&P 500 e-minis, advanced 0.23 per cent, according to business daily Mint. The upward movement was supported by the gains in Wall Street. While the stock market in Australia with strong economic ties with China, rose 1.59 per cent, while shares in China gained 0.72 per cent. Hong Kong stocks jumped 1.18 per cent. The Nikkei also surged 2 per cent, shrugging off a larger-than-expected decline in Japanese industrial production. On the other hand, the US stocks finished noticeably higher, boosted by solid gains in Boeing shares. On Monday, the Dow Jones Industrial Average jumped 580.25 points, or 2.32 per cent, to 25,595.80. The S&P 500 was up 44.19 points, or 1.47 per cent, to 3,053.24. The Nasdaq Composite Index increased 116.93 points, or 1.20 per cent, to 9,874.15. Boeing shares also jumped 14.4 per cent, leading the gainers in the 30-stock average. All the 11 primary S&P 500 sectors closed higher, with industrials and materials up 2.36 per cent and 2.03 per cent, respectively, outpacing the rest. Investors also remain watchful of the spike in coronavirus cases across the country and its impact on economic recovery. More than 2.56 million confirmed COVID-19 cases have been reported in the United States, with nearly 126,000 deaths, as of Monday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University. US equities declined during the week ending Friday. The Dow dropped 3.3 per cent last week, while the S&P 500 and the Nasdaq fell 2.9 per cent and 1.9 per cent, respectively. (With inputs from IANS)