The Indian stock market is notably higher Tuesday morning, with traders indulging in some hectic bargain hunting and short-covering after recent sharp losses. Overnight positive close in the U.S. and European markets and a fairly steady trend in Asian markets today too contribute to the upmove on the Indian bourses in early trades.
Stocks from oil, metal, automobile, information technology and consumer durables sectors figure in the prominent gainers list in opening trades. A few stocks from banking, realty, FMCG and healthcare sectors too are trading notably higher.
The BSE benchmark Sensex is up 234.89 points or 0.91% at 26,000.03, after rising to 26,039.70 a little while ago. The Nifty50 of the National Stock Exchange is up 83.30 pointsor 1.05% at 8012.40.
In the forex market, the rupee is trading at 68.17 against the U.S. dollar, down three paise from its previous close.
Tata Motors, Adani Ports, Maruti Suzuki and ONGC are gaining 2% - 2.4%. Tata Steel, Infosys, Tata Consultancy Services, ICICI Bank, GAIL India, ITC, Mahindra & Mahindra, Hero Motocorp, State Bank of India, Hindustan Unilever, Asian Paints, Coal India, Axis Bank and Bajaj Auto are up 1% - 2%.
Hndalco, up 3.5%, is the top gainer in the Nifty50 index. Tata Motors DVR, Grasim Industries, Bank of Baroda, Yes Bank, UltraTech Cement, Zee Entertainment Enterprises, Tata Power and HCL Technologies are gaining 1% - 3%.