Indian Benchmark indices, BSE Sensex and NSE Nifty, carried the momentum from yesterday and opened higher, tracking positive cues from Wall Street and other Asian markets. BSE Sensex opened 80.96 points or 0.26% higher at 31,392.53 points, while NSE Nifty, the broader gauge, opened 12.95 points or 0.13% higher at 9,670.50 points. At 9:18 am, BSE Sensex was trading 47.51 points or 0.15% higher at 31,359.08 points while the NSE Nifty was up 9.95 points or 0.10% at 9,667.50 points.
US stocks rose on Monday, with the S&P 500 and the Dow hitting record highs on hopes of strong economic growth. The Dow Jones Industrial Average rose 144.71 points, or 0.68 percent, to end at 21,528.99, the S&P 500 gained 20.31 points, or 0.83 percent, to 2,453.46 and the Nasdaq Composite rose 87.26 points, or 1.42 percent, to 6,239.01.
Japan’s Nikkei rose more than 1 percent to hit a near two-year high on Tuesday following a rebound in US hi-tech shares as investors bet on solid growth in the economy and corporate profits globally, Reuters reported.
MSCI will rejig its Emerging Markets Index later in the day amid speculation that the index provider will finally open it up for Chinese mainland shares, which have restricted access for foreign investors. Many investors expect the so-called A-shares that make up the majority of China’s stock market to be included after being rejected on three previous occasions, Reuters reported.
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Back home, the IPO of Central Depository Services (India) Ltd (CDSL) got subscribed twice on the first day of bidding, while that of Eris Lifesciences was subscribed 75 per cent on the second day of bidding.
Lanco Infratech became the first company to face bankruptcy proceedings among the dozen identified by the regulator as IDBI Bank has decided to recover its dues by taking the resolution to insolvency courts. The company’s stock tumbled 20% yesterday and was locked in a lower circuit.
The Indian rupee closed unchanged at 64.43 against the US Dollar.
The dollar gained on Monday after remarks by New York Fed President William Dudley, that tightening in the labour market should help drive up inflation, helped offset concerns by some investors that stubbornly low inflation would not allow policy-makers to raise rates further the rest of this year, Reuters reported.