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Sensex Climbs 70 Points in Early Trade on Tata Steel Earnings

Metal counters, including Hindustan Alumium, Nalco and Vedanta, witnessed intense buying, rising up to 6.17 per cent. Besides, auto, capital goods, teck, healthcare, IT and realty stocks were among the big gainers.

PTI

Updated:August 8, 2017, 10:20 AM IST
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Sensex Climbs 70 Points in Early Trade on Tata Steel Earnings
Representative Image. (Image: PTI)
Mumbai: The benchmark Sensex on Tuesday rose over 70 points in early trade after Tata Steel reported better- than-expected Q1 earnings amid mixed global cues.

Metal counters, including Hindustan Alumium, Nalco and Vedanta, witnessed intense buying, rising up to 6.17 per cent. Besides, auto, capital goods, teck, healthcare, IT and realty stocks were among the big gainers.

The benchmark BSE Sensex gained 70.10 points, or 0.21 per cent, to 32,343.77. It had lost 51.74 points in yesterday's trade.

The 50-issue Nifty too rose by 25.20, or 0.25 per cent to quote at 10,082.60.

Widespread buying by domestic institutional investors (DIIs) continued and supported the recovery, brokers said.

Shares of Tata Steel rallied by 3.50 per cent to Rs 621 after the company yesterday posted a consolidated net profit of Rs 921.09 crore for the quarter ended June 30, 2017.

Other bright spots were Bajaj Auto, Hindustan Unilever, Cipla, M&M, Bharti Airtel, Adani Ports, TCS, Hero MotoCorp and L&T, rising by up to 2.04 per cent.

Globally, Hong Kong's Hang Seng rose 0.07 per cent, while Japan's Nikkei shed 0.37 per cent in early deals. Shanghai Composite fell 0.20 per cent.

The US Dow Jones Industrial Average ended at new record by surging 0.12 per cent on Monday.
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