Benchmark indices opened strongly on Tuesday, taking cues from their Asian counterparts.
At 9:17 AM, the S&P BSE Sensex was trading at 37,328.35, 274.25 points while the broader Nifty50 was ruling at 11,252.65, up 84.60 points.
Shares of HDFC Standard Life slumped 5 per cent in the early trade on reports that the company’s JV partner, Standard Life Mauritius Holdings was planning to sell 4.93 per cent stake in the life insurance firm at a floor price of Rs 357.50 per equity share. READ MORE
Among sectoral indices, Nifty Realty index is trading 3.56 per cent higher.
In the broader market, the S&P BSE MidCap index was trading 157.61 points, or 1.04 per cent higher at 15,252.27, while the S&P BSE SmallCap index was ruling at 14,962.83, up 200 points, or 1.36 per cent.
The rupee opened 14 paise higher at 69.75 on Tuesday amid firm Asian equities and rise in crude oil prices. The domestic unit on Monday advanced by 25 paise to close at 69.89, in line with a strong rally in domestic equities, reflecting positive investor sentiments amid hopes that the incumbent NDA government will get the second term.
Asian shares rose on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent, following on from a rally on Wall Street overnight. Australian shares were up 0.4 per cent, while Japan’s Nikkei stock index jumped 1.6 per cent.