Sensex Gains Over 200 Points, Nifty Touches 11,300 As Auto, IT Stocks Rise

Domestic stock markets started Tuesday’s session on a flat note amid lacklustre movement across Asian markets, as the number of COVID-19 cases continued to increase around the globe. The S&P BSE Sensex index rose as much as 0.62 per cent – or 234.36 points – to touch 38,285.14 in the first few minutes of trade, after opening with a gain of 0.09 per cent (33.92 points) at 38,084.70. The broader NSE Nifty 50 benchmark climbed to as high as 11,319.85, up 0.65 per cent – or 72.75 points – from its previous close, having started the day at 11,259.80, up 12.70 points – or 0.11 per cent – from its previous close. 

At 9:25 am, the Sensex traded 141.14 points – or 0.37 per cent – higher at 38,191.92 while the Nifty traded at 11,296.40, up 49.3 points – or 0.44 per cent – from its previous close.

Equities in other Asian markets inched up on Tuesday as tensions between the US and China, the world’s largest two economies, weighed on optimism generated by Wall Street’s tech-driven rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen trading 0.03 per cent higher, while Japan’s Nikkei 225 benchmark was down 0.54 per cent.

The Donald Trump administration announced on Monday it would further tighten restrictions on China’s Huawei Technologies, aimed at cracking down on its access to commercially available chips.

While China’s Shanghai Composite index was down 0.03 per cent, Hong Kong’s Hang Seng and South Korea’s KOSPI barometers were down 0.11 per cent and 0.65 per cent respectively.

The E-Mini S&P 500 futures traded 0.01 per cent higher at the time, indicating a flat start for US markets on Tuesday, a day after the Nasdaq surged to a record high close and the S&P 500 approached its own record level, both lifted by technology stocks.

On Monday, the Sensex had ended 173.44 points – or 0.46 per cent – higher at 38,050.78, and the Nifty settled at 11,247.10 up 68.70 points – or 0.61 per cent – from its previous close, as the indices snapped three days of losses. 

Author: ApnayOnline is an oline news portal which aims to provide latest trendy news around the Asia

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