Equity indices in positive zone, Tata Steel gains 4.7 pc

Mumbai (Maharashtra): Equity benchmark indices were in the positive territory during early hours on Tuesday amid strong global cues after data showed that China’s manufacturing sector grew more than expected in June.

At 10:15 am, the BSE S&P Sensex was up by 225 points or 0.63 per cent at 35,186 while the Nifty 50 edged higher by 64 points or 0.62 per cent at 10,377.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal gaining by 2.1 per cent and realty by 1.3 per cent.

Among stocks, Tata Steel edged higher by 4.75 per cent to Rs 336.10 per share while Hindalco was up by 3.2 per cent and JSW Steel by 2 per cent.

The other prominent gainers were UPL, ICICI Bank, NTPC, Britannia and HDFC. Among those in the red zone were Sun Pharma, Dr Reddy’s, Tata Consultancy Services, Infosys, GAIL and Power Grid Corporation.

Meanwhile, Asian shares rose after data in China showed activity quickening in its vast factory sector. That was a hopeful sign for the global economy struggling to recover from the impact of the coronavirus crisis.

MSCI’s broadest index of Asia Pacific shares outside Japan was up by 0.9 per cent while shares in China gained by 0.72 per cent.

Hong Kong stocks jumped 1.18 per cent despite the Chinese parliament’s passage of a security law that will increase Beijing’s control over the former British colony.

The Nikkei rose by 2 per cent while shrugging off a decline in Japanese industrial production. (ANI)