Equity indices bounce on global cues, metal and banking stocks firm
All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty metal up by 2 per cent, auto by 1.2 per cent and financial service by 1 per cent.
Mumbai (Maharashtra): Equity benchmark indices bounced during early hours on Tuesday amid firm global cues as investors continued to weigh the economic impact of ongoing coronavirus outbreak.
At 10:15 am, the BSE S&P Sensex was up by 410 points to 41,390 while the Nifty 50 edged higher by 125 points at 12,157.
All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty metal up by 2 per cent, auto by 1.2 per cent and financial service by 1 per cent.
Among stocks, JSW Steel gained by 2.8 per cent to trade at Rs 285.75 per share while Tata Steel moved up by 2.5 per cent at Rs 455 apiece. Hindalco and Vedanta too advanced by 1.9 per cent each.
Tata Motors accelerated by 3.4 per cent while Axis Bank and IndusInd Bank gained by 1.8 per cent and 1.7 per cent. The other prominent gainers were Reliance Industries, GAIL, ITC and UltraTech Cement.
However, Tata Consultancy Services and Grasim traded with a negative bias.
Meanwhile, Asian share markets traded higher even as doubts grew about how quickly China’s factories can get back to work given that the coronavirus continues to spread and deaths mount.
MSCI’s broadest index of Asia Pacific shares outside Japan rose by 0.9 per cent while the Shanghai Composite up by 0.63 per cent.
Hong Kong’s Hang Seng index surged by 1.27 per cent, South Korea’s Kospi gained by about 1.19 per cent while Japan’s Nikkei was closed for a holiday.
The total number of deaths in China has topped 1,000, well past the toll from Severe Acute Respiratory Syndrome (SARS), which killed nearly 800 worldwide.
(ANI)