The S&P BSE Sensex index jumped as much as 395.33 points to touch 49,960.19 in the first few minutes of trade, and the broader NSE Nifty 50 benchmark climbed to as high as 15,026.65, up 120.6 points from its previous close.
Bharat Petroleum was the top gainer in the Nifty50 universe, up 2.66 per cent in early deals. IndusInd Bank, SBI,
, and were among other top performers.
was the top laggard, down 0.92 per cent. SBI Life and Hero MotoCorp, down 0.18 per cent and 0.15 per cent, respectively, were the only other laggards in the 50-scrip index.
Analysts awaited more quarterly earnings announcements from India Inc for cues.
, Concor, Crompton, , Hindalco, JSW Steel and Dr Lal Pathlab are some of the companies due to post their Q4 results on Wednesday.
Equities in other Asian markets moved higher tracking overnight gains on Wall Street. Japan’s Nikkei gained 0.97 per cent, Australia’s S&P/ASX 200 index 0.31 per cent, China’s Shanghai Composite 0.30 per cent and South Korea’s Kospi 0.30 per cent, but Hong Kong’s Hang Seng edged 0.10 per cent lower.
Overnight on Wall Street, the three benchmark indices rose, with a more than 1 per cent jump in the S&P 500 gauge led by strength in technology shares. The Dow Jones industrial average rose 0.55 per cent and the technology stocks-heavy Nasdaq Composite 1.77 per cent.
In the oil market, prices edged higher, taking a breather after three days of losses, as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress on talks to revive a 2015 nuclear deal. Benchmark Brent crude futures rose 0.20 per cent to $65.21 per barrel.
THIS IS A DEVELOPING STORY. MORE TO COME…
