Sensex jumps 625 points, Nifty up by 181 points in early trade

Indian equity benchmarks began to trade on a positive note
on Tuesday following an overnight rally on Wall Street along with positive cues
from other Asian counterparts. Domestic indices are trading firm in early deals
with gains of over a percent each on account of healthy buying in Auto, Capital
Goods, and TECK counters.

In early trade, the Sensex climbed 625.68 points to
59,036.66. The Nifty surged 181.3 points to 17,493.10.

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Among the Sensex components, the top gainers were Bharti
Airtel, Mahindra & Mahindra, UltraTech Cement, Larsen & Toubro, Wipro,
ITC, State Bank of India, and Maruti. All Sensex companies were trading in the
green.

Asian markets are trading mostly in green with the Nikkei
225 surging 371.27 points or 1.39% to 27,147.06, Hang Seng jumping 138.25
points or 0.83% to 16,751.15, Taiwan Weighted rising 71.98 points or 0.56% to
13,038.03, KOSPI advancing 18.56 points or 0.84% to 2,238.27 and Shanghai
Composite was up by 4.80 points or 0.16% to 3,089.74.

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Wall Street had ended significantly higher on Monday. The
S&P 500 rose 94.88 points, or 2.6%, to 3,677.95. The Dow Jones Industrial
Average rose 550.99 points, or 1.9%, to 30,185.82. The Nasdaq rose 354.41
points, or 3.4%, to 10,675.80. The Russell 2000 index of smaller companies rose
53.35 points, or 3.2%, to 1,735.75.

On Monday, the Sensex rose 491.01 points or 0.85% to settle
at 58,410.98. The Nifty climbed 126.10 points or 0.73% to end at 17,311.80.

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“In India, bulls are gaining strength aided by India’s
growth outperformance, good early Q2 results, declining FII selling, steadily
rising DII buying, and optimism ushered in by the festive season,” said V
K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The rupee began at 82.21 versus the US dollar before rising to 82.08, a 22-paise increase from the previous day, amid positive domestic equities and an overnight decline in the dollar index.

Also Read | Rupee rises 17 paise to 82.13 versus US dollar

Brent crude futures, the international oil benchmark was
trading 0.29% higher at USD 91.89 per barrel. 

Foreign institutional investors (FIIs) have offloaded
shares worth a net of Rs 372.03 crore, whereas domestic institutional investors
(DIIs) bought shares worth a net of Rs 1,582.24 crore on Monday, according to
data available on the NSE.