Driven by gains in IT stocks amid positive global cues, sensex jumps 100 points

Mumbai: Domestic equity benchmarks BSE Sensex and NSE Nifty started on a positive note Tuesday driven by gains in IT stocks amid positive global cues.

After jumping over 100 points in opening session, the 30-share index was trading 63.84 points, or 0.16 per cent, higher at 39,848.36 at 0930 hours. Similarly, the broader NSE Nifty was quoting 10.65 points, or 0.09 per cent, up at 11,933.35.

Top Sensex gainers in early session Tuesday include IndusInd Bank, HCL tech, ONGC, Tata Motors, TCS, Tata Steel and Infosys, rising up to 2 per cent. While, Sun Pharma, M&M, Bharti Airtel, Axis Bank, HDFC and ICICI Bank fell up to 2.50 per cent.

Domestic indices extended gains as investors sentiment remained positive amid easing concerns over a global trade war after the United States dropped its threat to impose tariffs on Mexico, traders said.

Bourses in China, Japan and Korea were trading on a positive note in their respective early sessions. Strengthening rupee and foreign fund inflow too kept the positive momentum in the market going, traders added.

The rupee appreciated 16 paise to 69.49 against the US dollar. In Monday’s session, foreign institutional investors bought equity worth Rs 216.20 crore, and domestic institutional investors purchased shares to the tune of Rs 170.62 crore, provisional data available with stock exchanges showed.

Meanwhile, the global oil benchmark Brent crude futures were trading 0.32 per cent higher at 62.49 per barrel.