Twitter
Advertisement

Opening bell: Key indices open slightly higher, Sun TV gains in early trade

The markets on Tuesday opened slightly higher. Key indices stayed unaffected from the Asian stocks that were under pressure because of escalating worries over North Korea. 

Latest News
article-main
Indian stocks got a jolt on Monday as North Korea conducted its biggest nuclear test.
FacebookTwitterWhatsappLinkedin

The markets on Tuesday opened slightly higher. Key indices stayed unaffected from the Asian stocks that were under pressure because of escalating worries over North Korea. 

The 30-share BSE Sensex was up 73.36 points at 31,775.61 and the 50-share NSE Nifty gained 20.65 points at 9,933.50. 

Among the early top gainers were Tech Mahindra, Tata Motors and HDFC Bank while TCS, HCL Technologies, Bharti Airtel, ITC and HDFC comparitively in under pressure.

Sun TV added another 3% after CLSA raised target price to Rs 965 while Bharat Financial was up 2% as Credit Suisse raised target price to Rs 1,055.

Tourism Finance Corporation of India gained 6.5% . Thomas Cook and IFCI gained more than 3 percent.

Indian stocks got a jolt on Monday as North Korea conducted its biggest nuclear test.

Globally, stocks plummeted across Asia and Europe as jittery global investors turned to safe-haven investments like gold, silver, Treasury futures and Japanese yen amid growing global tensions.

Snapping the three-day gains, the BSE Sensex tumbled 189.98 points, or 0.60%, to close at 31702.25 while the Nifty fell 61.55 points, or 0.62%, to 9912.85, in line with the global sell-off.

India's Volatility Index (VIX) has touched its biggest yearly gain as all sectoral indices barring media and metals, traded in red on the National Stock Exchange. Auto, banking and IT stocks led the pack of losers.

Adani Ports which was the biggest loser on Sensex, Infosys, Airtel, HDFC Bank and Hindustan Unilever fell up to 2.6%. Additionally, Hero MotoCorp, Asian Paints, Tata Motors and Bharti Airtel, too ended with losses of up to 1.94% which dragged indices.

According to IIFL Holdings, "Uncertainty of reaction to North Korean provocation is dragging on Indian stocks and pushing volatility off from a state of complacency."

Sanjiv Bhasin, executive vice-president at IIFL, was quoted by Bloomberg in a report saying, "Stocks facing reality after climbing the global wall of worries. Investors will await cues from U.S. markets open and global funds reaction." "If Nifty breaks 9700, it can fall to 9400 as the economy remains weak and there is too much complacency even with weak earnings," Bhasin said.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement