The Sensex rose nearly 395 points on Tuesday, aided by purchasing in HDFC twins, foreign fund inflows, and lower crude oil prices.
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During the early session, the Sensex was trading 395.29 points higher at 59,858.07. Similarly, the Nifty rose 105.2 points to 17,803.35.
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Asian Paints, Mahindra & Mahindra, Nestle India, Axis Bank, IndusInd Bank, HDFC Bank, and HDFC were the top gainers on the Sensex. Bharti Airtel and Tata Steel, on the other side, were the laggards.
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Asian markets were trading mixed with Hang Seng increasing 8.90 points or 0.04% to 20,049.76, Shanghai Composite gaining 7.78 points or 0.24% to 3,283.87, KOSPI rose 7.57 points or 0.3% to 2,535.51 and Jakarta Composite was up by 24.65 points or 0.35% to 7,117.93. On the other hand; Taiwan Weighted dropped 4.95 points or 0.03% to 15,412.40, Nikkei 225 slipped 14.97 points or 0.05% to 28,856.81 and Straits Times was down by 6.88 points or 0.21% to 3,249.94.
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Markets on Wall Street had ended higher on Monday. The S&P 500 increased 0.4% after falling 0.5% earlier in the session. The Dow Jones Industrial Average increased by 0.5%, while the Nasdaq increased by 0.6%. Smaller company stocks increased as well, putting the Russell 2000 index up 0.2%.
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Stock markets were closed on Monday on account of Independence Day. Forex and money markets will remain closed on Tuesday on account of ‘Parsi New Year’.
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On Friday, the Sensex finished 130.18 points, or 0.22% higher, at 59,462.78. The Nifty rose 39.15 points, or 0.22%, to 17,698.15.
The foreign institutional investors (FIIs) bought shares worth a net Rs 3040.46 crore, while domestic institutional investors (DIIs) sold shares worth a net Rs 839.45 crore in the Indian equity market on August 12, as per provisional data available on the NSE.
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Meanwhile, the international oil benchmark Brent crude was trading 1.31% lower at USD 94.25 per barrel.
