Indian equity benchmarks on Tuesday traded higher in opening deals amid positive cues from the global markets. Asian shares inched up, tracking the U.S. stock futures, on reports that America may ease some tariffs on goods from China. U.S. markets were closed overnight for the Fourth of July holiday.
Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a slightly higher start for the domestic indices.
The 30-share BSE Sensex jumped 267 points or 0.50 per cent to 53,501 in the early session, while the broader NSE Nifty moved 67 points or 0.42 per cent higher to trade at 15,903.
Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 climbed 0.49 per cent and small-cap rose 0.75 per cent.
All 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Sub-indexes Metal, Nifty Auto and Nifty Financial Services were outperforming the NSE platform by rising as much as 1.17 per cent, 0.68 per cent and 0.69 per cent, respectively.
On the stock-specific front, Tata Motors was the top Nifty gainer as the stock soared 2.49 per cent to Rs 418.60. Coal India, Hindalco, Adani Ports and JSW Steel were also among the gainers.
The overall market breadth was positive as 1,730 shares were advancing while 543 were declining on BSE.
On the 30-share BSE index, PowerGrid, Bajaj Finserv, Kotak Mahindra Bank, Tata Steel, NTPC, Reliance Industries, UltraTech Cement, ICICI Bank, Tech Mahindra, SBI, HDFC Bank and HDFC were among the top gainers.
Also, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, rose 1.52 per cent to trade at Rs 703.05.
In contrast, Asian Paints, ITC and Titan were trading in the red.
Sensex had surged 327 points or 0.62 per cent lower to close at 53,235 on Monday, while Nifty had moved 83 points or 0.53 per cent higher to settle at 15,835.