New Delhi: Markets opened in green on Tuesday led by gains in banking and financial stocks amidst positive global cues.
The BSE Sensex rose 297.49 points or 0.97 percent to 30,970.08 in early trade while the NSE Nifty jumped 78.85 points or 0.87 percent to 9,118.10.
ITC was the top gainer in the Sensex pack, rallying over 4 per cent, followed by IndusInd Bank, HDFC Bank, Tata Steel, Titan, UltraTech Cement and L&T. On the other hand, Bharti Airtel, TCS, Hero MotoCorp and Infosys were among the laggards.
Among Asian peers, Japan`s Nikkei rose 2% to its highest since early March. MSCI`s broadest index of Asia-Pacific shares outside Japan added 1.4%, while South Korea rose 1.1%. While Wall Street had been shut on Monday, E-Mini futures for the S&P 500 climbed 1.3% to test the 3,000 level. EUROSTOXX 50 futures added 0.6% and FTSE futures 1.8%, a Reuters report said.
Market were closed on Monday on account of Eid-ul-Fitr. In the previous session on Friday, markets ended in red on Friday led by losses in financial and banking sector. The BSE Sensex tumbled 260.31 points or 0.84 percent to end at 30,672.59. On the other hand the NSE Nifty dropped 67 points or 0.74 percent to close at 9,039.25.
The host of announcements made by RBI Governor Shaktikanta Das on Friday. Among the major announcements, Das said that RBI has slashed the repo rate by 40 bps to 4%. The reverse repo rate was also reduced by 40 basis points to 3.35%. The Central Bank has reduced the key policy rate for the second time this year. Among other major announcements, he also said that loan moratorium will be extended by 3 more months to August 31.
