Stock Market Updates: Sensex Up 250 pts, Nifty Above 19,750; Midcap Indices At Record Highs – News18

The key frontline indices started trade on an optimistic note on Tuesday backed by positive global cues.

The S&P BSE Sensex opened at 65,860, and was quoting with a gain of 230 points at 68,886. The Nifty50 was seen trading above 19,750 level.

Among the Sensex 30 stocks, JSW Steel and Tata Steel gained 1 per cent. HDFC Bank, Infosys, Relinace Industries and Tata Motors were the other notable gainers. On the flip side, Bajaj Finserv traded marginally in red.

In the broader indices, the BSE MidCap and SmallCap were up 0.4 per cent each.

In the broader market Jio Financial Services added 1 per cent after the company said it plans to raise Rs 5,000 – Rs 10,000 crore via its maiden bond sale.

Global Cues

Overnight, a notable dip in US Treasury yields coupled with a strong rally in Microsoft shares, after the latter hired ousted OpenAI CEO Sam Altman, helped the US indices log strong gains. Dow Jones gained 204 points and was less than 1 per cent from its record closing. Nasdaq soared over 1 per cent and the S&P 500 ended 0.7 per cent higher.

Later tonight, Nvidia’s earnings and the US FOMC minutes shall guide the trading action in the US.

Nearer home in Asia, Hong Kong’s Hang Seng and Taiwan were up over 1 per cent each. Kospi too advanced 0.9 per cent. China’s Shanghai indices gained around 0.5 per cent. Japan’s Nikkei, however, was down 0.2 per cent.