Sensex Opening Bell: Stock market buying continues; Sensex jumps 500 points, Nifty crosses 22650
New Delhi| Indian benchmark indices also showed a rise on Tuesday due to gains in Asian markets amid optimism related to China’s economy. However, there is also an atmosphere of caution among investors due to rising tariffs in the US, the Federal Reserve’s interest rate decision on Wednesday and ongoing geopolitical risks. In early trade on the second trading day of the week, BSE Sensex rose 600 points or 0.81% to 74,770, while Nifty 50 was seen trading 184 points or 0.82% to 22,693. ICICI Bank, Axis Bank, Mahindra & Mahindra, Zomato and Tata Motors gained in Sensex shares.
The rupee strengthened 10 paise to 86.71 against the US dollar in early trade on Tuesday in line with the trend of Asian currencies and supported by positive domestic stock markets.
Forex traders said the local currency rally remained limited as investors grappled with the potential economic impact of rising global trade concerns. The rupee opened 10 paise higher against the dollar at 86.71 in the interbank foreign exchange market.
On Monday, the rupee had closed 24 paise higher at 86.81 against the US dollar. Asian currencies gained marginally and CNH peaked at 7.2338, IDR at 16395 and KRW at 1445.
