Stock Market opens in green: Sensex jumps over 50 points, Nifty crosses 11,900 mark

Amid global cues, the domestic stock market opened at green today. In the first half hour of the trade, the S&P BSE Sensex traded at 39,908.47, up 91.99 points and the broader NSE Nifty was at 11,932.15, with a gain of 21.85 points.

Top gainers in the Sensex pack in early trade included Yes Bank, IndusInd Bank, Asian Paints, M&M, Axis Bank, NTPC and PowerGrid, rising up to 2.23 per cent. On the other hand, Vedanta, ONGC, HDFC, Tata Steel, ITC, TCS and HUL fell up to 1.63 per cent.

On the currency front, the Indian rupee appreciated 13 paise to 68.81 against the US dollar.

In the meantime, the global oil benchmark Brent crude futures were trading 0.34 per cent higher at 62.61 per barrel.  

It is to be noted that in the previous session, the BSE gauge settled 129.98 points, or 0.33 per cent, higher at 39,816.48, and the Nifty rose 44.70 points, or 0.38 per cent, to finish at 11,910.30.

On a net basis, foreign institutional investors sold equities worth Rs 512 crore, while domestic institutional investors purchased shares to the tune of Rs 141.09 crore, provisional data available with stock exchanges showed Tuesday.

According to PTI, the investors are cautious ahead of the Union Budget which is scheduled for Friday.

“Domestic investors followed cues from other Asian equities which remained volatile amid fears of a global economic slowdown amid weakening global manufacturing growth,” PTI quoted traders as saying. “Fall in GST collections, slow progress of monsoon too weighed on market mood here,” traders added.

Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading on a negative note in their respective early sessions. However, Bourses on Wall Street ended higher on Tuesday.

(With inputs from PTI)