Equity indices gain 0.5 pc, Maruti top gainer

Equity benchmark indices were in the green during early hours on Tuesday on the back of mixed global cues amid rising coronavirus cases and US-China tensions.

At 10:15 am, the BSE S&P Sensex was up by 292 points or 0.64 per cent at 45,719 while the Nifty 50 gained by 67 points or 0.5 per cent at 13,423.

Except Nifty metal and pharma, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty PSU bank up by 2.3 per cent, auto and realty by 1.3 per cent each, and FMCG by 0.4 per cent.

Among stocks, Maruti Suzuki was the top winner with gains of 2.2 per cent at Rs 7,912.45 per share.

Jet Airways was locked in 5 per cent upper circuit after the consortium of UAE-based businessman Murari Lal Jalan and London’s Kalrock Capital said it expects to start operating the airline by the summer of 2021.

The other prominent winners were UPL, HDFC, ONGC, GAIL, Reliance Industries and HCL Technologies. However, those which lost were Sun Pharma, Tech Mahindra, Coal India, Adani Ports and IndusInd Bank.

Meanwhile, Asian stocks came under pressure as investors struggled to balance hopes for more economic stimulus and vaccines with worries over a surge in Covid-19 infections.

MSCI’s broadest index of Asia Pacific shares outside Japan fell by 0.25 per cent.

Japan’s Nikkei was down by 0.27 per cent as Prime Minister Yoshihide Suga unveiled a 708 billion dollar in fresh economic stimulus measures, signalling his resolve to pull the country out of its coronavirus crisis-induced slump.

Chinese blue-chips fell by 0.2 per cent while Hong Kong’s Hang Seng were down by 0.62 per cent.

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