Sensex opens on a positive note; Hindustan Zinc rallies 7%
New Delhi – The S&P BSE Sensex rallied as much as 0.3 per cent in morning trade on Tuesday, led by gains in HDFC Bank, ICICI Bank, Sesa Sterlite and ITC. Tracking the momentum, the 50-share Nifty index also managed to hold its crucial psychological level of 6300, supported by gains in IT.
Hindustan Zinc rallied as much as 6.9 per cent to hit its 52-week high of Rs 141.80, after the Cabinet Committee on Economic Affairs (CCEA) approved the 29.5 per cent stake sale in Hindustan Zinc, which at current prices could fetch Rs 17,000 crore.
At 09:20 a.m.; the 50-share index was trading at 6311.60, up 7 points or 0.12 per cent. It touched a high of 6,322.35 and a low of 6,304.40 in early trade today.
The S&P BSE Sensex was trading at 21,232.17, up 27 points or 0.13 per cent. It touched a high of 21,263.98 and a low of 21,204.82 in trade today.
The S&P BSE Midcap Index was up 0.39 per cent and BSE S&P Smallcap Index edged higher by 0.34 per cent.
On the sectoral front, the BSE Metal index was up 1.1 per cent, followed by the BSE Capital Goods Index which was trading 0.68 per cent higher, the BSE Banking Index gains 0.51 per cent and the BSE Realty index was trading 0.21 per cent higher.
BSE IT index was trading 0.48 per cent lower, followed by the BSE Power index was down 0.06 per cent.
Sesa Sterlite (up 3.4 per cent), Tata Steel (up 1.6 per cent), SBI (up 0.8 per cent), L&T (up 0.81 per cent) and ICICI Bank (up 0.6 per cent) were among the major Sensex gainers.
BHEL (down 1.1 per cent), ONGC (down 0.54 per cent), Infosys (down 0.38 per cent) and Tata Motors (down 0.35 per cent) were the major index losers.
Asian markets got off to a positive start in absence of any major data, with the only action being a spike in the New Zealand dollar on talk interest rates could rise there as early as next week.
Japan’s Nikkei 225 index was trading 1.09 per cent higher at 15,811.50 and Hong Kong’s Hang Seng index was trading 0.50 per cent higher at 23,040.12.
South Korea’s Kospi index was trading 0.3 per cent higher at 1,959. China’s Shanghai index was trading 0.9 per cent higher at 2,009.