The markets opened higher on Tuesday (July 13). The benchmark indices were up. The benchmark Sensex opened 322.20 points or 0.62 percent at 52,694.90. The Nifty50 was up 101.40 points or 0.65 percent at 15,794.00.
NTPC was the top gainer in the Sensex pack, surging over 3 percent, followed by ICICI Bank, HDFC, PowerGrid, M&M, Axis Bank, L&T and UltraTech Cement.
On the other hand, Infosys, Tech Mahindra, HCL Tech and HUL were among the laggards.
In the previous session, Sensex ended 13.50 points or 0.03 per cent lower at 52,372.69, while the Nifty inched 2.80 points or 0.02 per cent higher to 15,692.60.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 745.97 crore on Monday, as per provisional exchange data.
According to Binod Modi Head-Strategy at Reliance Securities, the domestic market looks to be good as of now.
"IIP data for May witnessed strong over 29 per cent growth on base effects, while second wave impact made it to see 14 per cent contraction compared to May 2019. Hence, policy support is still much needed to spur economic activities in coming months, and we believe RBI will continue to maintain its accommodative policy in the medium term," he said, according to PTI.
Additionally, investors were upbeat as US equities recovered from earlier losses and all three key indices ended with record highs as expectations of robust June quarter earnings lifted sentiments.
Quarterly results today
Mindtree, Tata Metaliks, Deccan Health Care, Gagan Gases, Shree Ganesh Remedies, TPI India, and WS Industries will release quarterly earnings today (July 13).
Stocks under F&O ban on NSE
Seven stocks--Granules India, Indiabulls Housing Finance, Vodafone Idea, NALCO, NMDC, Punjab National Bank and SAIL--are under the F&O ban for July 13. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Asian shares up
Asian shares climbed in early trade on Tuesday after Wall Street hit record highs overnight, as investors awaited the second-quarter earnings season and a batch of economic data, including key US inflation figures later in the day.
The Nikkei 225 in Japan gained 0.75 percent in morning trade while the Topix index advanced 0.72 percent. South Korea's Kospi climbed 0.6 percent.
Wall Street's main indexes rose on Monday with the Nasdaq and the S&P 500 hitting record highs as investors awaited the start of the second-quarter earnings season and a batch of economic data to gauge the next leg of the quity market.
Dow Jones Industrial Average was up 67.40 points or 0.19 percent at 34,937.56, the S&P 500 was up 8.20 points or 0.19 percent at 4,377.75 and the Nasdaq Composite was up 10.22 points or 0.07 percent at 14,712.14.
The record finish comes as investors await semiannual testimony from Federal Reserve Chairman Jerome Powell beginning Wednesday and a batch of economic reports throughout the week, the unofficial start of corporate quarterly results.
Fuel rates unchanged
The oil marketing companies (OMC) kept the petrol and diesel prices unchanged across the country on Tuesday. The price of petrol continues to remain at Monday's level of Rs 101.19 a litre and diesel Rs 89.72 per litre in Delhi.
In Mumbai, the price of petrol was held unchanged at an all-time high of Rs 107.20 per litre. Diesel price also continues to be at Rs 97.29 a litre, the highest among metros.
In Chennai, petrol is priced at Rs 101.92 per litre while the price of diesel is Rs 94.24 per litre. The price of petrol in Kolkata is Rs 101.35 per litre while diesel is sold at Rs 92.81 per litre.