Sensex up 62 pts in early trade on positive macroeconomic data

MUMBAI: The Bombay Stock Exchange benchmark Sensex rallied 176.26 points in late morning trade amid sustained bouts of buying from funds and investors led by the key telecom, FMCG, IT, technology and oil & gas sectors.

Firm gross domestic product data after market hours on Tuesday triggered the buying spree, while positive manufacturing purchasing managers' indexes despite its slowest pace somewhat supported the sentiment.

The Sensex resumed higher at 26,684.46 and hovered in a range of 26,857.25 and 26,671.86, it was quoting at 26,844.22 at 11.10am, showing a gain of 176.26 points or 0.66 per cent from its last close.

The National Stock Exchange 50-share Nifty was also rose by 50.25 points or 0.62 per cent to quote at 8,210.35.

Major gainers were, Adani Ports 3.69 per cent, Asian Paints 2.86 per cent, Bharti Airtl 2.37 per cent, TCS 2.21 per cent, M&M 1.65 per cent, and ITC 1.61 per cent.

Meanwhile, foreign portfolio investors sold shares worth a net Rs 114.52 crore on Tuesday, as per provisional data released by the stock exchanges.

Overseas, Asian stocks were trading mixed. United States stocks also closed mixed on Tuesday as investors eyed economic reports for indications on the timing of the next rate hike.

Bombay Stock Exchange - BSE