Market benchmark indices Sensex and Nifty climbed in early trade on Tuesday on lower crude oil prices amid easing geopolitical worries in West Asia.
Buying in IT stocks also supported the positive trend in the markets.
The 30-share BSE Sensex climbed 152.7 points to 76,988.48 in early trade. The 50-share NSE Nifty went up by 44.95 points to 24,040.90.
From the Sensex pack, Tech Mahindra, Tata Consultancy Services, Infosys, HCL Tech, Hindustan Unilever and Eternal were among the major gainers.
Bharat Electronics, NTPC, Power Grid and State Bank of India were among the laggards.
Brent crude, the global oil benchmark, traded 1.44 per cent lower at USD 87.09 per barrel.
“Crude oil prices extended their decline as optimism over renewed talks with Iran eased concerns about potential supply disruptions,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,688.23 crore on Monday, according to exchange data.
In Asian markets, South Korea’s KOSPI tanked 9.34 per cent. Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were also trading lower.
US markets ended on a mixed note.
On Monday, the Sensex jumped 776.01 points, or 1.02 per cent, to settle at 76,835.78. The Nifty surged 228.50 points, or 0.96 per cent, to end at 23,995.95.
