Sensex Rises 300 pts, Reclaims 61K; Nifty Above 18,100; Key Points

Sensex Today: Indian equity markets started Tuesday’s trade on a positive note, supported by steady foreign flows, drop in crude oil prices, and hopes of softened rate hike cycle. Key indices Nifty50 climbed over 50 points to trade above 18,100 levels and the S&P BSE Sensex advanced over 300 points to trade at 61,058 levels.

Broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices surged up to 0.3 per cent. Volatility gauge, India VIX, meanwhile, slipped over 1 per cent.

Barring Nifty Metal index, all sectors swimmed in the sea of green, with Nifty Bank and Nifty Pharma indices rising up to 0.9 per cent.

Global Cues

Asian shares rose and bond yields firmed in early trade on Tuesday despite mild losses from Wall Street overnight as investors turned their focus to the Federal Reserve’s policy meeting this week for hints on what comes next.

Tokyo stocks opened higher on Tuesday, shrugging off US falls, as investors awaited earnings reports by major Japanese firms including Toyota. The benchmark Nikkei 225 index was up 0.13 percent, or 36.14 points, at 27,623.60 in early trade, while the broader Topix index added 0.22 percent, or 4.23 points, to 1,933.64.

US stocks lost ground on Monday, with the major indexes closing out a strong month of gains on a weaker foot, as investor focus turned to the Federal Reserve’s policy meeting this week.

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