Sensex Sprints 1,200 pts, Nifty Above 17,200; Adani Green Rallies 6%

Sensex Today: The benchmark Sensex and Nifty indices opened firmly on Tuesday morning in tandem with global peers. Frontline indices Nifty50 surged over 200 points to trade above 17,150 levels and the S&P BSE Sensex climbed over 950 points to trade at 57,778 levels.

The positive sentiments spread across broader markets too, as Nifty MidCap 100 and Nifty SmallCap 100 rose over 1 per cent each. Volatility gauge, India VIX, meanwhile slipped over 6 per cent.

All sectors swimmed in a sea of green. Nifty Metal and Nifty PSU Bank indices led the charge as they advanced in the range of 2 per cent to 3 per cent.

All the 30-constituents in the S&P BSE Sensex started to trade in positive territory. Shares of IndusInd Bank, L&T, Bajaj Twins, and Tata Steel, contributed to sharp gains in the benchmark.

Among individual stocks, shares of Dilip Buildcon gained over 3 per cent after the company bagged Rs 1,061 crore contract from Surat Metro Rail project in Gujarat.

Besides, shares of KEC International gained over 2 per cent after the company secured new orders worth Rs 1,407 crore across all segments.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “In the last eight out of ten years Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too.”

“Financials and autos are again set to lead the uptrend since their fundamentals and prospects are strong. Capital goods are likely to join the rally and telecom is on a strong wicket,” Vijayakumar said.

Rupee Opens

Indian rupee opened 23 paise higher at 81.64 per dollar on Tuesday against previous close of 81.87.

Global Cues

Tokyo stocks opened higher Tuesday after Wall Street shares rebounded, but a North Korean missile test shortly before the opening bell provided a reminder to investors of geopolitical risks. The benchmark Nikkei 225 index was up 1.82 per cent, or 477.51 points, to 26,693.30 in early trade, while the broader Topix index added 2.01 per cent, or 37.17 points, to 1,884.75.

Wall Street’s three major indexes rallied to close over 2 per cent on Monday as U.S. Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year’s final quarter.

Oil prices inched higher in early Asian trade on Tuesday, on expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday but concerns about the global economy capped gains.

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