At 9.20 am, the BSE Sensex was up 332.98 points or 0.54 per cent at 62,098.57. The NSE Nifty rose 83.10 points or 0.45 per cent to 18,560.15.
“Historically, it is observed that whenever the trend is strong, we tend to see such ‘Runaway Gaps’ and whenever they immediately gets filled, it’s a first caveat to lighten up longs. Since Nifty50 is in an uncharted territory, we reiterate every 100 points round figure is to be considered as the next junction. Monday’s gap area of 18,445-18,350 would be seen as a crucial support zone,” said Sameet Chavan of Angel Broking.
Among Sensex stocks, L&T gained 3.54 per cent to Rs 1,851.35. TechM and Bajaj Finserv added 1.5 per cent each. HCL Tech, Bharti Airtel, M&M and SBI gained over 1 per cent each.
HCL Technologies was up as the IT services major said it continues to be positive about its products and platform business and expects to see strong growth in the segment in the December quarter. SBI gained as the PSB raised Rs 6,000 crore by issuing Basel-III compliant bonds. Bharti Airtel rose after the government has written to telcos, including Bharti Airtel, asking them to convey by October 29 if they would be opting for four-year dues moratorium.
ITC fell 2.84 per cent to Rs 255.85. UltraTech Cement, PowerGrid, Titan Company, Nestle India and Maruti Suzuki declined up to 0.60 per cent.
UltraTech Cement fell as the Aditya Birla group firm reported a flat consolidated profit at Rs 1,310.34 crore for the quarter on account of sharp rise in coal and pet coke prices.
Hindustan Unilever, Nestle India, ICICI Prudential Life Insurance, L&T Technology Services, ACC, ICICI Securities, Navin Fluorine International, DCM Shriram, Jubilant Ingrevia, Tata Steel BSL, Sonata Software and Network 18 Media & Investment are among the companies that will announce their September quarter results today.
Meanwhile, major Asian shares were trading higher on Tuesday after Wall Street ended mostly up and with investors awaiting corporate earnings. The dollar was languishing near the bottom of its recent range against major peers, knocked back by weak US factory data overnight.
