In early trading on Tuesday, equity benchmark indices showed gains, primarily led by buying in IT majors such as Tata Consultancy Services and Infosys, coupled with fresh foreign fund inflows.
The 30-share BSE Sensex started on a firm note, advancing 243.4 points to reach 71,974.82 in early trade, while the Nifty rose by 72.9 points to 21,844.60.
Among the Sensex constituents, notable gainers included Tata Consultancy Services, Bharti Airtel, HCL Technologies, Wipro, Maruti, Infosys, Tech Mahindra, Tata Motors, Hindustan Unilever, and Mahindra & Mahindra. Bharti Airtel saw an increase of over 2 percent following its announcement of a 54 percent jump in consolidated net profit to Rs 2,442.2 crore for the December quarter, driven by growth in high-value customers.
However, Power Grid, NTPC, Axis Bank, and JSW Steel were among the laggards.
In Asian markets, Seoul and Tokyo were trading in negative territory, while Shanghai and Hong Kong saw gains. Meanwhile, US markets closed lower on Monday.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that the positive aspect is the robust performance of the US economy, indicating a slim possibility of a sharp global slowdown due to a potential US recession.
Foreign institutional investors (FIIs) were net buyers of equities worth Rs 518.88 crore on Monday, as per exchange data.
On the previous trading day, the BSE benchmark fell by 354.21 points, or 0.49 per cent to close at 71,731.42, while the Nifty declined by 82.10 points, or 0.38 per cent to end at 21,771.70.
In the global oil market, Brent crude rose marginally by 0.08 percent to USD 78.05 a barrel.
(With PTI inputs)
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