Indian equity benchmarks on Tuesday traded higher in opening deals after a sharp plunge in the previous session. Asian stocks turned cautious on global inflation worries and the possibility of aggressive U.S. Federal Reserve monetary policy tightening.
Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a tad higher start for the domestic indices.
The 30-share BSE Sensex rose 225 points or 0.38 per cent to 57,390 in early trade, while the broader NSE Nifty moved 85 points or 0.50 per cent up to trade at 17,259.
Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.93 per cent and small-cap climbed 0.83 per cent.
12 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Nifty Metal and Nifty Auto were outperforming the index by rising as much as 1.22 per cent and 0.97 per cent, respectively.
On the stock-specific front, Coal India was the top gainer as the stock surged 2.27 per cent to Rs 193.75. JSW Steel, Eicher Motors, BPCL and Hero MotoCorp were also among the gainers.
The overall market breadth stood strong as 1,980 shares were advancing while 659 were declining on BSE.
On the 30-share BSE index, Tata Steel, M&M, SBI, Maruti, Bajaj Finance, Reliance Industries and ICICI Bank were among the top gainers.
In contrast, Infosys, HDFC twins (HDFC and HDFC Bank), Dr Reddy’s, Tech Mahindra, HCL Tech, Bharti Airtel and Kotak Mahindra Bank were trading in the red.
Sensex had crashed 1,172 points or 2.01 per cent to close at 57,167 on Monday, while Nifty had moved 302 points or 1.73 per cent lower to settle at 17,174, dragged by weak quarterly (Q4 2021-22) results of Infosys and HDFC Bank.