Sensex reclaims 32,000 level, Nifty extends gains on easing of North Korean crisis, weakening of Hurricane IRMA

The market extended its gains on Tuesday with the Sensex reclaiming the 32,000 mark and Nifty rising above the key 10,000 level in early trade, bouyed by Asian markets hitting 10-year high on back of a North Korean holiday passing without a missile test and weakening of Hurricane IRMA in the US.

At 11:35 am, the Sensex was trading 177 points or 0.56 percent higher at 32,059 level. The Nifty was up 51 points at 10,056 level .

Bank Nifty was trading 0.45 percent or 110 points higher with public sector banks surging. The BSE Bankex was also up 0.45 percent with Bank of Baroda (3.34 percent), Punjab National Bank (2.28 percent) and Federal Bank (1.77 percent ) among the top gainers on the index.

Gateway Distriparks (7.04 percent), NCC Ltd (6.55 percent) and Divi's Laboratories 6.51 (percent)  were the top gainers on the BSE.

The Tata Steel stock rose higher after the firm announced that it has concluded a new agreement under which its UK business stands separated from the 15-billion pound British Steel Pension Scheme (BSPS).

The Tata Steel stock was trading almost 3.47 percent or 22 points higher at 684.25 level on the BSE.

Market breadth was positive with 1,357 stocks rising against 950 falling on the BSE.

On Monday, the benchmark Sensex closed higher by 195 points and the Nifty went past the 10,000-mark for the first time since August 7. The Sensex rose 0.6% to 31,882 and the Nifty Index advanced 0.7%to 10,006. The FIIs were net sellers of stocks worth Rs 392.52 crore while the DIIs were net buyers of stocks worth Rs 877.37 crore.

Global markets

Asian shares hit a 10-year peak on Tuesday with investors breathing a sigh of relief as North Korean fears eased slightly and the worst-case scenario from Hurricane Irma looked to have been avoided.

Japan's benchmark Nikkei 225 gained 1.0 percent to 19,741.42, as a weaker yen also helped boosted sentiments. Australia's S&P/ASX 200 was up nearly 0.9 percent at 5,763.20 in early trading, while South Korea's Kospi inched up but was little changed at 2,359.45. Hong Kong's Hang Seng fell 0.2 percent to 27,893.97, while the Shanghai Composite gained 0.1 percent to 3,379.91.

On Wall Street on Monday, U.S. S&P 500 Index surged over 1 percent to a record high close of 2,488 while MSCI's broadest gauge of the world's stock markets covering 47 markets also hit a new record high, having made its biggest gains in about two months.