Sensex opens above 100 points, Nifty above 10,500 mark on positive Asian cues

Key indices on Tuesday opened in green with the benchmark BSE Sensex opening up 100 points higher and Nifty was trading above 10,500 mark trading positive cues from Asian peers. At 9:48 AM, Sensex was trading 135 points higher at 34,586 points and Nifty was at 10,596.20 points. 

Asian stocks bounced from near two-week lows on Tuesday as investors paused for breath following the heavy selling of recent sessions and waited to see if the dollar's rally was sustainable.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.2 per cent higher, having hit its lowest level since April 9 following two straight days of declines. Japan's Nikkei rose 0.7 per cent, helped by a decline yen which supports exporting firms.

Chinese shares climbed about 2 per cent , while Hong Kong's Hang Seng index added 1 per cent.

U.S. bond prices rebounded too, capping four days of falls that sent 10-year Treasury yields closer to the key psychological barrier of 3 percent - a level not seen since early 2014.

On Monday shares of Tata Consultancy Services (TCS) surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over USD 100 billion (Rs 6,80,912.10 crore).

Shares of the company opened at Rs 3,429, rising 4.39 per cent to touch an intra-day high of Rs 3,557 on BSE. Following the uptick in the counter, the market capitalisation of the company swelled to Rs 6,80,912.10 crore.

Asian stocks slipped and the U.S. dollar advanced on Tuesday, as a deluge of U.S. government debt this week and the spectre of inflation and a higher fiscal deficit drove U.S. borrowing costs near four-year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent. Japan's Nikkei rose 0.7 percent thanks to fall in the yen.

U.S. bond prices have fallen for the past four days, pushing up the 10-year yield to 2.998 percent, its highest level since January 2014.

Market gauge of investors' inflation expectations such as the 5-year forward inflation swap and 10-year break even yield have hit their highest levels in many months.

Investors are concerned that U.S. inflation, long subdued since the financial crisis a decade ago, could gain momentum as President Donald Trump's tax cuts this year could stimulate an economy already near or at full employment.