Sensex, Nifty Edge Higher; Tech Mahindra Surges Over 5%

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Sensex, Nifty Edge Higher; Tech Mahindra Gains After September Quarter Earnings

The Indian equity benchmarks edged higher on Tuesday led by gains in Reliance Industries, Tech Mahindra, HDFC, HDFC Bank, ITC, Bharti Airtel and State Bank of India. The Sensex rose as much as 319 points and Nifty 50 index touched an intraday high of 18,219.30 amid positive cues from global markets. Japan’s Nikkei was up nearly 2 per cent, South Korea’s KOSPI index advanced 0.65 per cent, Taiwan Weighted rose 0.61 per cent and Australia’s S&P ASX 200 index rose 0.11 per cent.

Overnight, global stocks rose and Treasury yields dipped on Monday with major Wall Street benchmarks hitting fresh records, buoyed by a robust start to the U.S. corporate earnings season and an improving economic outlook.

The Dow Jones Industrials and S&P 500 closed at record highs on Monday as traders looked ahead to earnings reports.

The Dow Jones Industrial Average rose 0.18 per cent to 35,741.15, the S&P 500 gained 0.47 per cent to 4,566.48 and the Nasdaq Composite added 0.9 per cent, to 15,226.71.

Back home, buying was visible across the board as all the 15 sector gauges, barring the gauge of Private Bank shares, compiled by the National Stock Exchange were trading higher led by the Nifty IT and Realty indexes’ over 1.5 per cent gain. Nifty Auto, Metal, Media, PSU Bank and Consumer Durables indices also rose between 0.9-1.35 per cent.

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