Equity benchmark Sensex surged over 200 points in early trade on Tuesday led by gains in index-heavyweights Reliance Industries, ICICI Bank and HDFC amid positive cues from global markets.
The 30-share index was trading 211.55 points, or 0.61%, higher at 35,173.07, while the NSE Nifty rose 57.35 points, or 0.56%, to 10,369.75.
Tata Steel was the top gainer in the Sensex pack, surging around 4%, followed by Axis Bank, Bajaj Finance, L&T, SBI, IndusInd Bank, ICICI Bank, HDFC and Reliance Industries. On the other hand, TCS, Sun Pharma, Infosys, HDFC Bank and Kotak Bank were among the laggards.
In the previous session, the BSE barometer closed 209.75 points, or 0.60%, lower at 34,961.52, while the NSE Nifty settled 70.60 points, or 0.68%, down at 10,312.40.
Foreign institutional investors were net sellers on Monday, offloading equities worth ₹1,937.06 crore, provisional exchange data showed. According to traders, domestic indices tracked gains in global benchmarks that were buoyed by positive macroeconomic numbers.
China’s purchasing managers index (PMI) of factory activity improved on May and beat forecasts, while the non-manufacturing reading was also better than hoped.
Bourses in Shanghai, Hong Kong, Japan and Seoul were trading with significant gains. Further, on Wall Street, benchmarks rallied in overnight session after a much healthier-than-expected report on the housing market.
Meanwhile, international oil benchmark Brent crude futures fell 0.53% to $41.63 per barrel.