Indian equity criteria on Tuesday traded higher in opening deals led by a recovery in steel stocks.

Indian equity benchmarks on Tuesday traded higher in opening up deals led by a healing in metal supplies. Steel shares plunged sharply in the previous session after the Centre enforced export responsibilities on steel-making basic materials.

Fads on the Nifty Futures on Singapore Exchange (SGX Nifty) suggested a level beginning for the domestic indices today. Eastern shares slipped as the overnight gains on Wall Street obtained soured by a slide in united state supply futures.

Back home, the 30-share BSE Sensex rose 121 factors or 0.22 percent to 54,410 in very early trade, while the wider NSE Nifty moved 20 factors or 0.12 per cent as much as trade at 16,235.

Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 climbed 0.36 per cent and also small-cap got 0.52 percent.

11 out of the 15 sector assesses– put together by the National Stock Market– were trading in the eco-friendly. Sub-index Nifty Metal was outperforming the NSE system by climbing as high as 0.90 percent.

On the stock-specific front, M&M was the leading gainer as the supply soared 1.56 percent to 956.55. JSW Steel, IndusInd Bank, Bajaj Auto and also Coal India were also among the gainers.

On the 30-share BSE index, M&M, IndusInd Financial Institution, Tata Steel, PowerGrid, Axis Financial Institution, SBI, Kotak Mahindra Bank, NTPC and HDFC were amongst the leading gainers.

Additionally, shares of Life Insurance Company of India (LIC) rose 1.26 percent to trade at 827.15 versus its previous close of 816.85. LIC made a lukewarm launching at the stock market last week, listing at a price cut of 8.62 per cent.

In contrast, Hindustan Unilever, Bharti Airtel, Titan, TCS, L&T, Infosys and HCL Tech were selling the red.

Sensex had decreased 38 points or 0.07 percent to shut at 54,289 on Monday, while Nifty had actually moved 51 factors or 0.32 per cent to settle at 16,215.

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Resources: NDTV

Last Updated: 24 May 2022