The key domestic equity benchmark indices Sensex and Nifty climbed in early trade on Tuesday as crude oil prices fell due to easing geopolitical worries in the Middle East. Additionally, buying sentiment in IT stocks also supported the positive trend in the markets. Sensex, the 30-share BSE index, jumped 152.7 points to 76,988.48 in early trade. Nifty50, the 50-share NSE index, rose by 44.95 points to 24,040.90.
Top Gainers And Losers
From the Sensex basket, Tech Mahindra, Tata Consultancy Services, Infosys, HCL Tech, Hindustan Unilever and Eternal were trading in the green in early trade. On the other hand, BEL, NTPC, Power Grid and State Bank of India were trading lower.
Meanwhile, oil rates eased further in the international market amid easing tension between the US and Iran. In the morning, Brent crude, the global oil benchmark, was down 1.5 per cent to USD 87.09 per barrel.
Also Read: Stock Market Snaps 5-Day Losing Streak; Sensex Up 776 Points On Sharp Decline In Crude Prices
"Crude oil prices extended their decline as optimism over renewed talks with Iran eased concerns about potential supply disruptions," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,688.23 crore on Monday, according to exchange data.
International Market
In Asian markets, South Korea's Kospi fell 9.34 per cent. Japan's Nikkei 225 index, Shanghai's SSE Composite index, and Hong Kong's Hang Cheng index also fell. US markets closed mixed.
On Monday, the Sensex rose 776.01 points, or 1.02 per cent, to 76,835.78. The Nifty rose 228.50 points, or 0.96 per cent, to close at 23,995.95.
(With Inputs From PTI)