Sensex Rises Over 250 Points, Nifty Trades Above 15,900; LIC Listing In Focus
Indian equity benchmarks on Tuesday traded higher in opening deals as investors awaited Life Insurance Corporation of India’s (LIC’s) market debut.
Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a positive start for the domestic indices.
The 30-share BSE Sensex jumped 254 points or 0.48 per cent to 53,228 in early trade, while the broader NSE Nifty moved 76 points or 0.48 per cent up to trade at 15,917.
Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 rose 0.63 per cent and small-cap climbed 0.75 per cent.
14 of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Nifty Metal, Nifty Private Bank and Nifty Oil & Gas were outperforming the index by rising as much as 2.55 per cent, 0.94 per cent and 1.23 per cent, respectively.
On the stock-specific front, Hindalco was the top gainer as the stock soared 4.12 per cent to ₹ 407.05. ONGC, Tata Steel, Reliance Industries and JSW Steel were also among the gainers.
The overall market breadth stood strong as 1,831 shares were advancing while 517 were declining on BSE.
On the 30-share BSE index, Tata Steel, RIL, M&M, IndusInd Bank, Maruti, Bajaj Finance, Hindustan Unilever, Kotak Mahindra Bank, ICICI Bank, SBI and HCL Tech were among the top gainers.
In contrast, Sun Pharma, Infosys, Asian Paints, Nestle India and TCS were trading in the red.
Sensex had climbed 180 points or 0.34 per cent to close at 52,974 on Monday, while Nifty had moved 60 points or 0.38 per cent up to settle at 15,842.