MUMBAI: The key Indian equity indices opened on a positive note on Tuesday with the BSE Sensex surging over 1,300 points in early trade. Market was closed on Monday on account of ‘Mahavir Jayanti'.
The gains on the Indian stock markets were in line with the Asian indices which rose on signs that the rate of coronavirus-related deaths globally is dropping. Around 9.21 a.m., Sensex surged 1,372 points to touch an intra-day high of 28,963.25. At 9.34 a.m., the Sensex was trading at 28,699.02, higher by 1,108.07 or 4.02 per cent from the previous close of 27,590.95. It had opened at 28,898.36 and touched a low 28,602.31 so far.
The Nifty50 on the National Stock Exchange were trading at 8,384.15, higher by 300.35 points or 3.72 per cent from its previous close on Friday.
IndusInd Bank was the top gainer in the Sensex pack, surging up to 15 per cent, followed by Mahindra and Mahindra, HCL Tech, ICICI Bank, Axis Bank and Infosys. On the other hand, Bajaj Finance was the sole loser.
Despite concerns over rising coronavirus cases in the country, domestic equities took positive cues from global stocks and turned positive, traders said.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 2 per cent.
Benchmark exchanges on Wall Street ended over 7 per cent in overnight trade.
Brent crude futures, the global oil benchmark, rose 2.66 per cent to USD 33.93 per barrel on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market. (Agencies)