Sensex and Nifty opened higher on Tuesday tracking the early gains in the Asian markets as the worries over North Korea seemed to ease. The S&P 500 closed at a record high on Monday as the worst-case scenario from Hurricane Irma looked to have been avoided. BSE Sensex gained 147 points to open at 32,029.15 points and NSE Nifty advanced nearly 51 points to open at 10,056.85 points. All of the sectoral indices of NSE were trading higher led by Nifty Metal index, with gains up to 1.54%. Investors and market participants are looking forward to August CPI inflation and July IIP data which is scheduled for later today to watch for any turnaround after the disruption caused by GST.
The stock of Tata Steel was the biggest gainer on the benchmark Sensex, rose as much as 3.83% to Rs 686.65 after the company announced that it has concluded a new agreement under which its UK business stands separated from the 15-billion pound British Steel Pension Scheme (BSPS). Other gainers on the 30-share barometer are Sun Pharma (up 1.25%), Asian Paints (up 0.92%), Hindustan Unilever (up 0.8%), ITC (up 0.71%), and Reliance Industries (up 0.64%).
Shares of heavyweight companies such as ITC, Tata Steel, Reliance Industries, HDFC Bank, and L&T contributed the most to the Sensex gains. Collectively these five stocks alone added 90 points out of the 115 points rise in the index, BSE Sensex was trading 0.36% higher at 31,997.76 points.
Japan’s benchmark Nikkei 225 gained 1%to 19,741.42 points, as a weaker yen also helped boosted sentiments. Australia’s S&P/ASX 200 was up nearly 0.9% at 5,763.20 points in early trading, while South Korea’s Kospi inched up but was little changed at 2,359.45 points. Hong Kong’s Hang Seng fell 0.2% to 27,893.97 points, while the Shanghai Composite gained 0.1% to 3,379.91 points.
The S&P 500 climbed to a record high close on Monday after tropical storm Irma caused less damage than expected in Florida and North Korea did not test-fire missiles over the weekend as some had feared. The Dow Jones Industrial Average rose 1.19% to 22,057.44 points, the S&P 500 gained 1.08% to 2,488.11 points and the Nasdaq Composite added 1.13% to 6,432.26 points.