Sensex gains over 100 points on positive global cues; TCS, Infosys, HCL Tech top gainers
Domestic equity benchmark BSE Sensex rose over 100 points in early trade on Tuesday led by gains in IT stocks amid positive cues from global markets. The 30-share was trading 100.23 points or 0.27 per cent higher at 37,502.72 at 0930 hours; and the broader Nifty too rose 16.15 points or 0.15 per cent to 11,070.05 in morning trade.
In the previous session on Monday, the 30-share Sensex settled 52.16 points, or 0.14 per cent, higher at 37,402.49, and the NSE Nifty edged 6.10 points, or 0.06 per cent, up at 11,053.90.
Top gainers in the Sensex pack included TCS, Infosys, Hero MotoCorp, TechM, HCL Tech and PowerGrid, rising up to 2 per cent. While, Yes Bank, Bajaj Finance, IndusInd Bank, Axis Bank and Sun Pharma rose up to 4.50 per cent.
According to traders, domestic equities followed global stocks which rallied on expectations of stimulus measures from German and Chinese governments. Investors are also hoping for dovish comments from Federal Reserve Chair Jerome Powell in Jackson Hole, Wyoming, US, later this week. Elsewhere in Asia, Hang Seng, Shanghai Composite Index, Nikkei and Kospi were trading in the green in their respective late morning sessions.
Bourses on Wall Street ended significantly higher on Monday. Meanwhile, foreign portfolio investors sold shares worth a net of Rs 305.74 crore on Monday, while domestic institutional investors purchased shares worth Rs 386.23 crore, provisional data showed. On the currency front, the rupee depreciated 18 paise versus the dollar against its previous close to trade at 71.62 in early session. Brent crude futures, the global oil benchmark, rose 0.07 per cent to 59.78 per barrel.