Sensex off day’s high, up 300 pts; Nifty holds 21,600

Mirroring positive cues from the overseas markets, the benchmark stock indices opened on a gung-ho note on Tuesday.

The S&P BSE Sensex opened over 400 points higher at 71,771, and soon touched a high of 71,872. The BSE benchmark, therafter, pared some of the gains but was still up over 300 points at 71,650 levels. The NSE Nifty 50 was seen holding the 21,600 levels.

IT shares were the top gainers among the Sensex 30. Wipro, TCS, Tech Mahindra and Infosys gained around 1-2 per cent each. Tata Motors, SBI, Tata Steel and Larsen & Toubro were the other notable movers.

Bajaj Auto zoomed over 5 per cent after announcing share buyback at Rs 10,000 per share.

In the broader market, the BSE MidCap and SmallCap indices were also up nearly 1 per cent each.
Elsewhere in Asia, Japan’s Nikkei had soared over 1.5 per cent this morning. Kospi and Taiwan were up around 0.5 per cent each.

Overnight, the US market ended with strong gains backed by a rally in tech shares. Nasdaq zoomed 2.2 per cent, the S&P 500 jumped 1.4 per cent and Dow Jones added 0.6 per cent. Shares of Boeing, however, tanked 8 per cent.