Mumbai: Equity benchmark Sensex jumped over 200 points in opening commerce on Tuesday, monitoring features in index majors Infosys, Reliance Industries and Asian Paints amid constructive pattern in international markets.
The 30-share BSE index was buying and selling 274.03 points or 0.54 per cent increased at 50,669.11, and the broader NSE Nifty was up 75.10 points or 0.50 per cent at 15,004.60.
Asian Paints was the highest gainer in the Sensex pack, rising round 2 per cent, adopted by Titan, UltraTech Cement, Bharti Airtel, Infosys, Reliance Industries and M&M.
On the opposite hand, Bajaj Auto, NTPC and SBI had been the laggards.
In the earlier session, Sensex had ended 397 points or 0.78 per cent decrease at 50,395.08. The broader NSE Nifty completed 101.45 points or 0.67 per cent down at 14,929.50.
Foreign institutional traders (FIIs) had been internet sellers in the capital market on Monday as they offered shares price Rs 1,101.35 crore, as per trade information.
“We are now in a highly volatile phase where the market swings on a daily basis, responding to major triggers. The major trigger now is the US bond yield which has the potential to move huge money,” mentioned V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Rising bond yield triggers promoting in fairness markets and when yields settle down shopping for resumes, he mentioned, including that bear hammering and quick protecting are making markets excessively risky.
“Consecutive 2 days of institutional selling — by both FIIs and DIIs — weakened the Indian market. But this is not a directional trend. Post the Federal Open Market Committee (FOMC) meet and a possible affirmation of the dovish stance by the Fed, the market may resume its upward move. Presently top quality financials present a buying opportunity,” he famous.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul had been buying and selling on a constructive word in mid-session offers.
US equities too ended with features in the in a single day session.
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Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.83 per cent decrease at USD 68.31 per barrel.Â
