Sensex, Nifty advance on gains in IT, financial stocks amid global gains
The Hindu
While Tata Motors, HDFC Bank, HCL Tech, Asian Paints, Infosys, Bajaj Finserv, Tech Mahinrda, IndusInd Bank, Bajaj Finance, HDFC and Maruti were major gainers, Power Grid, Ultratech Cement, Bharti Airtel, Tata Steel and Axis Bank declined
Benchmark equity indices Sensex and Nifty advanced nearly half a per cent in early trade on Tuesday following gains in IT and financial stocks amid positive global cues.
The 30-share BSE Sensex rose by 273.27 points or 0.45% to 61,214.94 as 21 of its constituents traded in the green. The barometer opened stronger at 61,122.20 and touched a high of 61,266.06 in morning trade.
The broader Nifty of the National Stock Exchange advanced 66.70 points or 0.37% to 18,185.25. It moved in range of 18,156.55 to 18,201.25 in morning deals.
Among Sensex stocks, Tata Motors, HDFC Bank, HCL Tech, Asian Paints, Infosys, Bajaj Finserv, Tech Mahinrda, IndusInd Bank, Bajaj Finance, HDFC and Maruti were major gainers.
On the other hand, Power Grid, Ultratech Cement, Bharti Airtel, Tata Steel and Axis Bank declined.
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "A significant trend in the global equity market now is the outperformance of the mother market U.S. Hope of a soft landing for the U.S. economy is increasing and the market is responding to this."
The S&P 500 is up by 5.12% in January till date.
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