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NEW DELHI: Domestic equity indices edged higher in Tuesday's opening trade, tracking overnight rally in US stocks and gains in Asian markets, but upside remained capped amid rising tensions between the US and China and gloomy projections for India’s GDP growth rate.
The Trump administration announced on Monday it would further tighten restrictions on China's Huawei Technologies Co, aimed at cracking down on its access to commercially available chips.
Meanwhile, SBI said India’s GDP will contract 16.5 per cent during the first quarter of the current fiscal thanks to the devastating effect of the coronavirus pandemic.
At 09.22 am, BSE flagship Sensex was up 167 points or 0.44 per cent to 38,128 while NSE benchmark Nifty added 54 points or 0.48 per cent to 11,300. Auto, FMCG and private banks were in demand while select media stocks saw profit booking.
In the 30-share pack Sensex, NTPC was the biggest gainer for the second day, up 1.42 per cent at Rs 96.75. It was followed by ONGC, ICICI Bank, Reliance Industries, Titan and M&M that gained in the range of 0-2 per cent.
Power Grid was the biggest loser in the pack, down 0.70 per cent to Rs 177.40, followed by IndusInd Bank, Tata Steel, HCL Tech, Bajaj Auto and Bharti Airtel that fell in the range of 0-1 per cent.
Broader market indices were faring better than their headline peers as Nifty Smallcap added 0.71 per cent while Nifty Midcap advanced 0.55 per cent. Broadest index on NSE, Nifty 500 was up 0.51 per cent.
Nifty Realty was the biggest sectoral gainer on NSE, rising 1.39 per cent. It was followed by Nifty Auto and Nifty Financial Service with gains of about 0.40 per cent each. On the other hand, Nifty Media was the only sectoral index trading with a cut, down 0.64 per cent.
Globally, Asian stocks inched up as Sino-US tensions weighed on optimism generated by Wall Street's tech-driven rally, while the dollar dropped against almost all major currencies.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.19 per cent, to sit not far short of its pre-pandemic late January high.
Japan's Nikkei dipped 0.52 per cent, while most markets traded in a narrow band with Chinese blue chips dropping 0.25 per cent. The Australian benchmark index rose 0.12 per cent.
E-Mini futures for the S&P 500 were flat.
The Trump administration announced on Monday it would further tighten restrictions on China's Huawei Technologies Co, aimed at cracking down on its access to commercially available chips.
Meanwhile, SBI said India’s GDP will contract 16.5 per cent during the first quarter of the current fiscal thanks to the devastating effect of the coronavirus pandemic.
At 09.22 am, BSE flagship Sensex was up 167 points or 0.44 per cent to 38,128 while NSE benchmark Nifty added 54 points or 0.48 per cent to 11,300. Auto, FMCG and private banks were in demand while select media stocks saw profit booking.
In the 30-share pack Sensex, NTPC was the biggest gainer for the second day, up 1.42 per cent at Rs 96.75. It was followed by ONGC, ICICI Bank, Reliance Industries, Titan and M&M that gained in the range of 0-2 per cent.
Power Grid was the biggest loser in the pack, down 0.70 per cent to Rs 177.40, followed by IndusInd Bank, Tata Steel, HCL Tech, Bajaj Auto and Bharti Airtel that fell in the range of 0-1 per cent.
Broader market indices were faring better than their headline peers as Nifty Smallcap added 0.71 per cent while Nifty Midcap advanced 0.55 per cent. Broadest index on NSE, Nifty 500 was up 0.51 per cent.
Nifty Realty was the biggest sectoral gainer on NSE, rising 1.39 per cent. It was followed by Nifty Auto and Nifty Financial Service with gains of about 0.40 per cent each. On the other hand, Nifty Media was the only sectoral index trading with a cut, down 0.64 per cent.
Globally, Asian stocks inched up as Sino-US tensions weighed on optimism generated by Wall Street's tech-driven rally, while the dollar dropped against almost all major currencies.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.19 per cent, to sit not far short of its pre-pandemic late January high.
Japan's Nikkei dipped 0.52 per cent, while most markets traded in a narrow band with Chinese blue chips dropping 0.25 per cent. The Australian benchmark index rose 0.12 per cent.
E-Mini futures for the S&P 500 were flat.
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 | Krishan Kumar Totlani The Benchmark Indices were trading half a per cent higher on Tuesday, helped mainly by heavyweight Reliance Industries. The sensex was trading 216 points higher at 38,266 levels and the Nifty was up 70 points at the 11,317 level. |