Equity indices ride high, UPL gains 7 pc
Mumbai, Maharashtra: Equity benchmark indices were on upswing during early hours on Tuesday tracking firm trends in Asian markets. At 10:15 am, the BSE S&P Sensex was up by 388 points or 0.77 percent at 50,829 while the Nifty 50 edged higher by 127 points or 0.85 percent to 15,083.
Most sectoral indices at the National Stock Exchange were in the positive terrain with Nifty financial service up by 1.4 percent, private bank by 1 percent, and metal by 0.7 percent.
Among stocks, agrochemicals maker UPL ticked up by 7 percent to Rs 633.45 per share. Cement manufacturers Grasim, Shree Cement, and UltraTech Cement moved up by 4.1 percent, 2.5 percent, and 1.9 percent respectively.
SBI Life jumped by 3.5 percent to Rs 956.40 per share as the company reported a new business premium picking up last month. HDFC Life too was up by 2.1 percent to Rs 740.45 per unit.
The other prominent gainers were GAIL, ONGC, HDFC Bank, ICICI Bank, Bajaj Finance, and Titan.
However, some energy majors lost with Bharat Petroleum Corporation dropping by 4.1 percent, IndianOil Corporation by 1.4 percent, and Power Grid Corporation by 1 percent. Meanwhile, Asian stocks opened strong, helped mostly by global recovery prospects and the passage of a 1.9 trillion dollar stimulus bill. Japan's Nikkei 225 added 1.06 percent and Hong Kong's Hang Seng index rose by 1.35 percent. But South Korea's Kospi fell by 1.17 percent on rising bond yields.
