The Indian equities benchmarks opened on a positive note on Tuesday, as indicated by the nifty futures traded on Singapore Exchange. The BSE Sensex surged as much as 666 points, whereas the NSE advanced as much as 17,814, thus inching closer to the 18,000 mark.
At 9:20 am, the BSE Sensex was trading 563 points 0r 0.95 per cent higher at 59,704, whereas the Nifty 50 index advanced 177.75 points or 1.01 per cent at 17,800. Amongst the broader sectoral indices, Nifty Midcap 50 index advanced 1.41 per cent at 8,694, whereas the Nifty Midcap 100 index surged 1.34 per cent at 31,927. All sectoral indices witnessed buying between 0.61 per cent to 1.58 per cent, with the stocks of banking, auto, metal and consumer durables leading the pack.
On Monday, the US stocks closed higher as investors braced for another rate hike by the US Federal Reserve. The S&P500 index surged 26.56 points or 0.7 per cent at 3,899.89, whereas the Dow Jones Industrial Average advanced 197.26 points or 0.6 per cent at 31,019. While the Nasdaq was 86.62 points or 0.8 per cent higher at 11,535, the Russell 2000 for smaller companies surged 14.65 points or 0.8 per cent to 1,812.
The Asian stocks were trading higher on Tuesday. Tokyo’s Nikkei 225 surged 0.35 per cent, whereas South Korea’s KOSPI advanced 0.42 per cent. Singapore’s Hang Seng index was trading 1.02 per cent higher. China’s Shanghai Composite surged 0.59 per cent, whereas Shenzhen Component surged 0.89 per cent.
IndusInd Bank, Bajaj Twins, HCL Tech, Tata Steel, ICICI Bank, Titan, Larsen & Toubro, Tech Mahindra, Infosys, Axis Bank, and Asian Paint are amongst the top gainers.