Sensex surges over 180 points while nifty around 17,500 in early trade
- Sensex was up 187.89 points, or 0.32%, at 58,852.22
- Nifty was up 59.85 points, or 0.34%, at 17,563.20
- Rupee slips 12 paise to 74.54 against US dollar
- Brent crude climbed 0.15% to USD 82.30 per barrel
The Sensex and Nifty indices began the day on a high note, with investors showing a keen interest in telecom, power, and energy stocks.
In early trade, the BSE Sensex was up 187.89 points, or 0.32%, at 58,852.22, while the NSE Nifty was up 59.85 points, or 0.34%, at 17,563.20.
Bharti Airtel, PowerGrid, NTPC, Sun Pharma, and Reliance Industries were among the top gainers on the Sensex, jumping as high as 2.04%. On the other hand, Bajaj FinServ, Tech Mahindra, Maruti, Asian Paints, and Infosys were among the major laggards.
According to analysts, the telecom sector is in focus since the sector's giants have begun to raise rates, which would increase profitability.
The BSE Sensex closed 198.44 points, or 0.34%, higher at 58,664.33, while the NSE Nifty gained 86.80 points, or 0.50%, to 17,503.35.
Other Asian stock markets were trading with moderate to severe losses, mirroring a rise in US bond rates and volatility in global crude oil prices as a result of price-cooling attempts by the US and other countries.
Foreign institutional investors continued to offload shares on Tuesday, selling shares worth Rs 4,477.06 crore on a net basis.
Brent crude futures, the international benchmark for crude oil, climbed 0.15% to USD 82.30 per barrel. Rupee slips 12 paise to 74.54 against US dollar in early trade.