In the early morning trade on Tuesday, following sharp losses in the last two sessions, the S&P BSE Sensex and Nifty 50 index rose as investors bet on strong domestic earnings. The NSE Nifty 50 was up 1.25 per cent or 211.55 points at 17,165.50 and 702.54 points to 57,282.43 respectively.
- All major Nifty sub-indexes were trading in positive territory with the Nifty Auto index leading the pack, rising 2 per cent early on Tuesday.
- The Nifty Energy index rose 1.1 per cent as oil prices rebounded, while the fast-moving consumer goods sub-index rose 1.7 per cent, having fallen 1.6 per cent in the previous session.
- Among individual gainers, Mahindra CIE Automotive surged 10 per cent after its March quarter net profit jumped.
- Nifty components Bajaj Finance and HDFC Life Insurance Co were up 1.9 per cent and 0.5 per cent respectively, ahead of March quarter results.
Meanwhile, Asian shares were cautiously higher with MSCI’s broadest index of Asia-Pacific shares outside Japan inching up 0.8 per cent, though global growth fears stoked by China’s stringent Covid-19 curbs and an expected streak of aggressive Federal Reserve tightening hurt risk appetite.