Markets trade higher in early trade on buying in Reliance, HDFC twins; firm Asian equities

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Stock benchmark indexes rose in the opening hours of trading on Tuesday, following a strong trend in Asian markets and buying in index heavyweights Reliance Industries, HDFC Twins, and Technology counters.
In early trading, the 30-share BSE Sensex increased 295.59 points to 57,949.45. The NSE Nifty index as a whole increased by 76.05 points to 17,061.75.
Early trading saw notable gains for the Sensex companies Tata Steel, Reliance Industries, Tata Consultancy Services, ICICI Bank, HCL Technologies, Wipro, HDFC Bank, and HDFC.
Among the backwards were Bharti Airtel, Tata Motors, Power Grid, and Nestlé.

Seoul, Tokyo, Shanghai, and Hong Kong were all trading in the black on Asian markets.
On Monday, the American markets came to a mixed conclusion.

Early optimism was evident in Tuesday’s trade as a result of encouraging indications from other Asian indices, despite the fact that overnight US market results were mixed.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, stated in his pre-market opening comment that “the financial troubles in key US and European banking entities could be waning after the recent troubles, providing some confidence to investors, although one may not rule out that the overall undertone still remains that of cautious to negative.”

The benchmark 30-share BSE index increased 126.76 points or 0.22 percent on Monday to close at 57,653.86. To finish at 16,985.70, the Nifty gained 40.65 points, or 0.24 percent.

Brent crude, the benchmark for all crude oil, decreased 0.29 percent to USD 77.89 a barrel.

According to exchange data, foreign portfolio investors (FPIs) sold shares of stock on Monday totaling Rs 890.64 crore.