Sensex climbs 672 points as markets remain firm in early trade
All the 30-share Sensex pack of firms were trading in the green in early trade, with IndusInd Bank, Bajaj Finserv, Bajaj Finance, Axis Bank, ICICI Bank, Larsen & Toubro and Tata Steel emerging as major winners
Mumbai: Equity indices climbed in early trade on Tuesday, with the Sensex rallying 672 points, helped by continuous buying in banking counters and recovery in global markets.
Foreign fund inflows also added to the momentum.
The 30-share BSE Sensex jumped 672.06 points to 59,813.29 in early trade. The NSE Nifty went higher by 209.5 points to 17,831.75.
All the 30-share Sensex pack of firms were trading in the green in early trade, with IndusInd Bank, Bajaj Finserv, Bajaj Finance, Axis Bank, ICICI Bank, Larsen & Toubro and Tata Steel emerging as major winners.
“The Indian market continues to show resilience despite global challenges. Major indices like Nifty, bank, auto, FMCG and cement are at record levels with only IT dragging the benchmarks,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading higher.
The US markets ended with gains on Monday.
The BSE benchmark ended 300.44 points or 0.51 per cent higher at 59,141.23 on Monday. The Nifty went higher by 91.40 points or 0.52 per cent to 17,622.25.
Meanwhile, the international oil benchmark Brent crude climbed 0.21 per cent to USD 92.19 per barrel.
Foreign institutional investors (FIIs) turned buyers as they bought shares worth Rs 312.31 crore on Monday, according to data available with the BSE.
During the day, Sensex jumped 175.05 points or 0.28 per cent to 62,447.73 -- its lifetime intra-day peak
The 30-share BSE Sensex declined 101.03 points to 62,171.65 in early trade. The broader NSE Nifty dipped 24.20 points to 18,459.90
The share price of Archean Chemical may increase to between Rs 550 and 570 in the near term, and it may rise to Rs 640 in the long run