The S&P BSE Sensex index rose as much as 278.01 points to touch 48,996.53 in early deals, and the broader NSE Nifty 50 benchmark climbed to as high as 14,723.40, up 89.25 14,723.40 points from its previous close.
ONGC was the top gainer on the 50-scrip index, up 1.76 per cent. Axis bank, IndusInd Bank, SBI and ICICI Bank were among other gainers.
On the other hand, HUL was the top loser, down 0.91 per cent. Titan,
, Power Grid and were among other laggards.
Optimism on corporate earnings continues to support the mood among Dalal Street bulls, say analysts.
Adani Ports, Adani Total Gas, L&T Infotech and P&G Hygiene were slated to report their financial results for the March quarter later in the day.
RBL Bank, Morepen Labs, DCM Shriram, IIFL Securities, Suven Life and Greaves Cotton will also post their Q4 numbers on Tuesday.
Financial markets in Japan and mainland China are closed on Tuesday for a public holiday. Korea’s Kospi edged 0.08 per cent lower to 3,110.07 while Hong Kong’s Hang Seng added 0.24 per cent to 28,263.37. Taiwan’s TWSE index declined 0.19 per cent to 17,039.52.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up by 0.05 per cent on the back of a positive lead from Wall Street overnight.
Overnight on Wall Street, the Dow Jones Industrial Average index rose 0.7 per cent and the S&P500 gained 0.27 per cent. The Nasdaq Composite index dropped 0.48 per cent.
A slide in high-flying tech and related stocks – including Amazon.com Inc, Tesla Inc and Salesforce.com Inc, pressured the Nasdaq, as growth-oriented shares slid and cyclical stocks sensitive to the recovery rose.
Crude oil prices added to overnight gains on Tuesday, buoyed as more US states eased lockdowns and the European Union sought to attract more travellers, which would help offset weakened fuel demand in India as Covid-19 cases soar.
Brent crude futures rose 14 cents, or 0.2 per cent to $67.70 a barrel.
THIS IS A DEVELOPING STORY. MORE TO COME…
