Market breadth was highly positive with an advance-decline ratio of more than 2:1
Domestic stock markets rose sharply on Tuesday, extending gains a day after benchmark Nifty 50 index scaled a three-month peak. The S&P BSE Sensex index rose as much as 1.09 per cent - or 380.44 points - to touch 35,291.76 during the session, having started the day up 104.41 points at 35,015.73. The broader Nifty benchmark moved to as high as 10,430.05, after opening stronger at 10,347.95 compared to its previous close of 10,311.20. Buying across sectors, led by financial, consumer goods and metal stocks, supported the markets.
At 1:35 pm, the Sensex traded 377.34 points - or 1.08 per cent - higher at 35,288.66, while the Nifty was up 119.15 points - or 1.16 per cent - at 10,430.35.
Market breadth was highly positive with an advance-decline ratio of more than 2:1, as 1,853 stocks on the BSE traded higher against 730 that moved in the opposite direction.
In the 50-scrip Nifty index, all but three shares moved higher. Larsen & Toubro, IndusInd Bank, Hindalco, NTPC and Power Grid, trading between 4.28 per cent and 6.08 per cent, were the top percentage gainers.
Reliance Industries and Bharti Airtel were among the Nifty losers, down 0.82 per cent and 0.22 per cent respectively.
Larsen & Toubro, Infosys and Hindustan Unilever alone contributed more than 150 points to the gain in Sensex.
Equities in other Asian markets moved higher, having see-sawed in a wild ride earlier following confusing statements from the White House over the US-China trade deal, with President Donald Trump later clarifying the pact was "fully intact". Mr Trump's tweet bolstered market sentiment, with Asian shares quickly turning around to the positive territory.
MSCI's broadest index of Asia Pacific shares outside of Japan rose 0.97 per cent, whereas Japan's Nikkei 225 benchmark climbed up 0.50 per cent for the day.
Risk sentiment had taken a knock early in the Asian day after White House trade adviser Peter Navarro said the trade deal with China was "over", linking the breakdown in part to Washington's anger over Beijing not sounding the alarm earlier about the coronavirus outbreak.
The E-Mini S&P 500 futures were down 0.05 per cent in Asian trade, indicating a flat to negative start for US markets on Tuesday.
European share markets started Tuesday's session on a positive note, with the United Kinddom's FTSE index last seen up 0.93 per cent in early trade. France's CAC and Germany's DAX indices were up 1.64 per cent and 2.15 per cent at the time respectively.
