Gains across sectors pushed the markets higher
Domestic stock markets started Tuesday's session on a positive note tracking gains in Asian equities, on relief that another round of US-China sparring appears not to have spilled over into trade. The S&P BSE Sensex index jumped 343.2 points - or 0.90 per cent - to touch 38,525.28 at the strongest level recorded in early trade, after opening with a gain of 189.26 points at 38,371.34. The broader NSE Nifty 50 benchmark climbed to as high as 11,359.50, up 89.35 points or 0.79 per cent from its previous close, having started the day up 52.10 points at 11,322.25.
Gains across sectors - led by banking, financial services, automobile and metal shares - pushed the markets higher.
At 9:33 am, the Sensex traded 322.31 points - or 0.84 per cent - higher at 38,504.39 while the Nifty was up 95.55 points - or 0.85 per cent - at 11,365.70.
Hindalco, JSW Steel, ICICI Bank, Zee Entertainment and Axis Bank - trading between 2.56 per cent and 4.31 per cent higher - jumped the most among the 43 gainers in the 50-scrip Nifty basket of shares.
Share markets elsewhere in Asia moved higher as investors awaited a meeting between top US and Chinese trade officials on Saturday to review the first six months of the Phase 1 trade deal.
MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 0.95 per cent higher, while Japan's Nikkei 225 benchmark was up 1.65 per cent.
China's Shanghai Composite, Hong Kong's Hang Seng and South Korea's KOSPI indices were up 0.33 per cent, 2.26 per cent and 1.78 per cent respectively.
The E-Mini S&P 500 futures traded 0.26 per cent higher at the time, indicating a positive start for US markets on Tuesday.
On Monday, the benchmark S&P 500 index closed 0.27 per cent higher whereas the Dow Jones Industrial Average index rose 1.30, after US President Donald Trump signed executive orders to partly restore unemployment benefits after talks between the White House and top Democrats about fresh stimulus broke down last week.
