Sensex rises over 300 points, Nifty reclaims 10,600; M&M, IndusInd, ICICI Bank top gainers
The Sensex and Nifty extended gained in early trade today amid higher Asian markets. Sentiment on the street also received a boost after September trade deficit shrunk to a five-month low of $13.98 billion compared to $17.4 billion in August, data released by the government showed on Monday.
While the Sensex rose 303 points or 0.87% to 35,168, Nifty gained 78 points ot 0.75% to 10,591 level.
Top Sensex gainers were M&M (3.56%) , IndusInd Bank (3.30%) and ICICI Bank (2.33%).
Wipro (0.84%), Sun Pharma (0.73%) and TCS (0.32%) were the top Sensex losers. Meanwhile, the mid cap and small cap indices were trading 0.78% and 1.61% higher in early trade.
Market breadth was positive with 1,434 stocks trading higher compared to 319 falling on the BSE.
The rupee weakened by 9 paise to 73.92 against the US dollar in early trade Tuesday on increased demand for the American currency from banks and importers.
At the Interbank Foreign Exchange, the domestic currency opened higher at 73.79 but lost ground and fell to 73.92.
Asian markets were mostly higher on Tuesday, though Chinese benchmarks fell after the government reported inflation rose for the fourth straight month.
Japan's benchmark Nikkei 225 added 0.3 percent to 22,317.06. The Kospi in South Korea recovered 0.1 percent to 2,145.71. Hong Kong's Hang Seng index, which has fallen 22 percent since early January, slipped another 0.2 percent to 25,396.19.
The Shanghai Composite dropped 0.2 percent to 2,564.24. Australia's S&P/ASX 200 gained 0.4 percent to 5,859.20. Shares rose in Taiwan, and Indonesia but fell in Singapore and Thailand.