Sensex, Nifty Rise 1% As Financial, Consumer Goods Stocks Spike

At 8:04 am, the SGX Nifty futures were up 101.75 points - or 1.13 per cent - at 9,142.75.

Sensex, Nifty Rise 1% As Financial, Consumer Goods Stocks Spike

HDFC Bank, ITC and Reliance Industries were the top contributors to the gain in Sensex

Domestic stock markets started jumped in early trade on Tuesday, resuming trade after a holiday, amid gains in global equities. The S&P BSE Sensex index climbed as much as 1.35 per cent - or 414.11 points - to touch the 31,086.70 mark, after starting the session up 191.68 points at 30,864.27. The broader NSE Nifty 50 benchmark rose to as high as 9,161.65, having opened higher at 9,099.75 compared to its previous close of 9,039.25. While buying interest in financial, consumer goods and metal stocks supported the markets, selling pressure in IT counters capped the upside.

At 9:21 am, the Sensex traded 333.43 points - or 1.09 per cent - higher at 31,006.02 while the Nifty was up 97.70 points - or 1.08 per cent - at 9,136.95.

In the Nifty basket of 50 shares, JSW Steel, ITC, IndusInd Bank, Hindalco and HDFC Bank - trading between 2.77 per cent and 4.88 per cent higher - were the top percentage gainers.

On the other hand, Bharti Airtel, TCS, Hero MotoCorp, Zee Entertainment and Infosys - down between 0.48 per cent and 3.41 per cent - were the top Nifty losers.

HDFC Bank, ITC and Reliance Industries alone contributed more than 150 points to the gain in Sensex.

HDFC shares rose 3.39 per cent to touch the Rs 1,568.00 mark on the BSE at the strongest level in early deals, compared to their previous close of Rs 1,516.55, a day after the mortgage lender reported its financial results for the January-March period.

Equities in other Asian markets moved higher, with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading up 1.29 per cent.

Japan's Nikkei 225, China's Shanghai Composite, Hong Kong's Hang Seng and South Korea's KOSPI indices were up 2.14 per cent, 0.76 per cent, 1.96 per cent and 1.22 per cent respectively at the time.

The E-Mini S&P 500 futures rose 1.32 per cent in early Asian trade, indicating a strong opening for the US markets on Tuesday after a day's holiday.

On Friday, Wall Street had registered cautious gains, with the S&P 500 index rising 0.24 per cent and the Nasdaq Composite settling 0.43 per cent higher for the day. However, the Dow Jones Industrial Average had closed 0.04 per cent lower that day.

Earlier on Friday, the Sensex index had ended 260.31 points - or 0.84 per cent - lower at 30,672.59, and the Nifty settled at 9,039.25, down 67.00 points or 0.74 per cent from its previous close. 

The markets remained shut on Monday for Id-Ul-Fitr.