Global cues lift equities, IT stocks rise
Mumbai, March 16, 2021
Robust global cues along with healthy buying in IT sector stocks pushed India's key equity indices higher during Tuesday's post-noon trade session.
Accordingly, the key indices -- Sensex and Nifty -- had a gap-up opening hours after the US market hit a record high level.
On the global front, Asian markets were trading in green as bond yields have eased and optimism over US stimulus.
In terms of domestic market, sentiments were lifted after country's exports reported an increase for the third consecutive quarter.
Apart from the realty and metals space, all the sectors traded in the green.
Consequently, the S&P BSE Sensex at 1.20 p.m. was up by 56.5 points, or 0.11 per cent, to 50,451.58 points from the previous close.
The NSE Nifty50 on the National Stock Exchange traded at 14,939.55, up by 10.05 points, or 0.07 per cent, from its previous close.
"The major growth in the near term depends on the success of mass vaccination," said Gaurav Garg, Head of Research at CapitalVia.
"Other than realty and metal all major indices are trading in green. Asian Paint and HCLTECH are the top gainers on the flipside JSW Steel and TATA steel are the top losers on Nifty."