Equity benchmark indices showed gains in early trading, as shares were bought in IT majors like TCS and Infosys. Foreign fund inflows also contributed to the gains.
Equity benchmark indices rose early Tuesday due to purchasing of stocks in IT companies like Tata Consultancy Services and Infosys and foreign capital inflows.
The 30-share BSE Sensex rose 243.4 points to 71,974.82 and the Nifty 72.9 points to 21,844.60 in early trade.
On the Sensex, Tata Consultancy Services, Bharti Airtel, HCL Technologies, Wipro, Maruti, Infosys, Tech Mahindra, Tata Motors, Hindustan Unilever, and Mahindra rise. A 54% increase in total net profit to Rs 2,442.2 crore for the December quarter powered by high-value customer growth lifted Bharti Airtel above 2%.
JSW Steel, Power Grid, NTPC, and Axis Bank trailed.
Shanghai and Hong Kong rose, Seoul and Tokyo declined. US stocks fell on Monday.
According to Geojit Financial Services Chief Investment Strategist V K Vijayakumar, a US recession is unlikely to impact the global economy.
On Monday, FIIs bought Rs 518.88 crore in shares, per exchange data.
The BSE benchmark sank 354.21 points, or 0.49 percent, to 71,731.42, while the Nifty fell 82.10 points, or 0.38 percent, to 21,771.70.
Conclusion
Early trading saw Tata Consultancy Services and Infosys buy and foreign money inflows raise equities benchmark indices. The Nifty rose 72.9 points to 21,844.60 and the BSE Sensex 243.4 points to 71,974.82. TCS, Bharti Airtel, HCL, Wipro, Maruti, Infosys, Tech Mahindra, Tata Motors, Hindustan Unilever, and Mahindra and Mahindra profited. JSW Steel, Power Grid, NTPC, and Axis Bank trailed.
