The stock markets opened on a positive note on Tuesday (August 24).
The benchmark indices were trading in the green at opening bell. Sensex jumped 181.59 points or 0.33 percent at 55,737.38 points tracking gains in index majors Infosys, Tata Steel and Reliance Industries amid a positive trend in global equities. Nifty 50 was up 64.90 points or 0.39 percent at 16,561.40.
Tata Steel was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, NTPC, L&T, PowerGrid, IndusInd Bank and UltraTech Cement.
On the other hand, Maruti, Asian Paints, Kotak Bank and HDFC were among the laggards.
In the previous session, Sensex ended 226.47 points or 0.41 per cent higher at 55,555.79, and Nifty rose 45.95 points or 0.28 per cent to 16,496.45.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,363.36 crore on Monday, as per provisional exchange data.
Two new companies, viz., Aptus Value Housing Finance and Chemplast Sanmar will make their market debuts today.
Asian markets up
Shares in Asia-Pacific largely rose in Tuesday morning trade after the tech-heavy Nasdaq Composite jumped to a record closing high following the US Food and Drug Administration’s full approval of Pfizer and BioNTech’s COVID-19 vaccine.
The Nikkei 225 in Japan gained 1.15 percent, as shares of conglomerate Softbank Group surged more than 2 percent. The Topix index advanced 1.18 percent. South Korea’s Kospi jumped 1.55 percent.
Petrol, diesel prices cut today
A day after the pause, the state-owned fuel retails have cut the prices of petrol and diesel again on Tuesday. Petrol price was cut by 11 to 15 paise per litre, while diesel rate has come down by 14-16 paise for a litre.
In Delhi, petrol prices have been reduced by 15 paise from Rs 101.64 per litre to Rs 101.49 per litre, while diesel rates have been cut by 15 paise from Rs 89.07 per litre to Rs 88.92 per litre.
In Mumbai, petrol and diesel prices are at Rs 107.52 per litre and Rs 96.48 per litre respectively. In Chennai, petrol is available at Rs 99.20 per litre and diesel costs Rs 93.52 per litre.
The petrol and diesel saw price cut of 11 and 15 paise, respectively in Kolkata. With the revision, a litre of petrol was sold at Rs 101.82 and diesel Rs 91.98 in Kolkata.
This cut in fuel prices came amid declining global crude oil prices. The October contract of Brent crude oil on the Intercontinental Exchange (ICE) was trading at $66.66. The pump prices of auto fuels have been static since July 18.
Oil prices steady
Oil steadied on Tuesday after jumping more than 5 percent amid a global rebound in equities and commodities following the worst losing streak for crude since October 2019.
International oil benchmark Brent crude rose 0.23 per cent to $68.53 per barrel
Futures in New York traded near $65 a barrel after advancing on Monday for the first time in eight sessions. The fast-spreading Delta variant of the virus is continuing to cloud the economic outlook, but there are a few positive signs for demand. China has brought local cases down to zero, while Southeast Asia’s biggest economy -- Indonesia -- has lifted some restrictions.
The COVID-19 resurgence has interrupted oil’s rally and may prompt OPEC+ to reassess its plans to return additional barrels to the market each month until all of its halted output halted is revived. Goldman Sachs Group Inc , however, reiterated that the impact from delta would be transient.
F&O ban today
Four stocks are under the F&O ban today: Canara Bank, Vodafone Idea, NMDC and Sun TV Network.
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