Equity indices trade higher led by metal stocks

Equity benchmark indices were marginally higher during early hours on Tuesday with positive global cues as reopening of economies in western countries and encouraging data points towards a fast global recovery.

On the domestic front, investors were upbeat on the early lifting of Covid-19 lockdown restrictions by several states.

At 10:15 am, the BSE S&P Sensex was up by 186 points or 0.37 per cent at 50,838 while the Nifty 50 surged by 67 points or 0.44 per cent to 15,264.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal gaining by 2 per cent, FMCG by 0.9 per cent and auto by 0.8 per cent. But Nifty PSU bank and private bank were down by 0.8 per cent and 0.5 per cent respectively.

Among stocks, JSW Steel was up by 3.5 per cent to Rs 705.50 per share, Tata Steel by 2.3 per cent and Hindalco by 1.9 per cent.

Mahindra & Mahindra advanced by 1.8 per cent, Tata Motors by 1.4 per cent, Asian Paints by 2.6 per cent, Titan by 2.3 per cent and Nestle India by 1.6 per cent.

However, HDFC Bank was down by 1.3 per cent at Rs 1,490 per share. Axis Bank, IndusInd Bank, ICICI Bank and Kotak Mahindra Bank slipped marginally while public sector State Bank of India too was in the red by a thin margin.

Meanwhile, Asian shares climbed after a Wall Street rally overnight. MSCI's broadest index of Asia Pacific shares outside Japan was up 1 per cent at a two-week high.

Japan's Nikkei stock index rose 0.6 per cent and Hong Kong's Hang Seng index was up by 1.05 per cent.

(ANI)

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