Mumbai: Equity Benchmark Sensex jumped more than 250 points in early trading on Tuesday, tracking profits in the Index Department of Infosys, Hul and TCS amidst the flow of sustainable foreign funds.
Sensex 30-stock traded 264.5 points or 0.45 percent higher at 58,755.43.
Likewise, sophisticated nifty 80.85 points or 0.46 percent to 17,477.75 in the initial transaction.
HCL Tech is the top enhancer in the sensex package, up more than 2 percent, followed by Hul, Infosys, Cat Asia, Steel Tata and ITC.
On the other hand, Maruti, Nestle India, Sun Pharma, Bajaj Finserv and Bajaj Auto are among sluggish.
In the previous session, the 30-share index ended 524.96 points or 0.89 percent lower at 58,490.93, and Nifty fell 188.25 points or 1.07 percent to close at 17,396.90.
Investors of foreign institutions (FIIS) are clean buyers in the capital market because they buy shares worth RS 92.54 Crore on Monday, according to temporary exchange data.
“Domestic equity looks soft because the impact of cascading from the default Evergrande can change the risk of investors to avoid in the medium term,” said Binod Modi’s head-strategy strategy at Reliance Securities.
However, given the increase in the possibility of a decrease in profit ratings in the US market after a sharp rise in the Caseload daily Coronavirus and sustainable reform measures carried out by the Indian government seem to have revived the interests of FIIS in the domestic market, he said.
On the global front, equity witnessed heavy selling pressure on Monday because it was increasingly fear of the second largest real estate market in China which allowed the Evergrande default market.
The three indices in the US recorded around 2 percent.
Furthermore, investors turned to be careful ahead of the results of the Federal Open Market Committee (FOMC) meeting on Wednesday, where many investors expect Hawkish comments from the US Federal Reserve, Modi added.
Elsewhere in Asia, Hang Seng and Nikkei traded with losses.
Exchange in China and Tokyo remain closed.
Meanwhile, Brent Crude’s international oil benchmark rose 0.91 percent to $ 74.59 per barrel.
Sensex surged more than 250 points in the initial trade; Nifty tops 17,400.
