Sensex jumps 150 pts, Nifty50 above 10,550; Tata Motors gains 3%

NEW DELHI: Benchmark indices were off to a positive start on Tuesday, tracking solid gains in US stocks in overnight trade. A continuous fall in crude oil prices and firm cues from Asian markets too supported sentiment.

At 9.22 am, the BSE Sensex was trading 125.32 points or 0.36 per cent, higher at 35,076.24. The NSE barometer Nifty50 was firmly trading above 10,550-mark at 10,574.05, up 50.05 points, or 0.48 per cent.

“We advise traders to remain positive and keep following strict stop losses. At this juncture, a prudent strategy would be stick to a stock-centric approach and focus on such potential candidates who are poised for an extended bounce back,” said Sameet Chavan of Angel Broking.


Among Sensex stocks, Tata Motors climbed 2.9 per cent to Rs 195.15 on BSE. It was followed by Vedanta, Sun Pharma, TCS and Reliance Industries, which gained 1.7 per cent, 1.5 per cent, 1.39 per cent and 1.23 per cent, respectively.


Shares of DHFL jumped 3.5 per cent after the NBFC said it has bought back Rs 1,775 crore worth of commercial papers (CP). DHFL since September 21, 2018, has repaid commercial paper holders Rs 9,465 crore including buyback worth Rs 3,240 crore, the company said in a statement.

Andhra Bank soared 5.4 per cent to Rs 30.30 after the state-run bank said it will divest its stake either fully or partially in various joint venture firms. The board of directors of the bank accorded its approval for divestment of bank's stake in full or in part in joint venture investments of the bank -- ASREC India, India International Bank (Malaysia) Bhd and IndiaFirst Life Insurance Co.

Power Grid gained 1 per cent after the power utility firm reported a 7.86 per cent year-on-year rise in profit at Rs 2,309.49 crore for the quarter ended September 30. The firm had posted a profit of Rs 2,141.04 crore in the corresponding quarter last year.

Voltas, Manappuram Finance,Aditya Birla Capital, Graphite India, Dr Lal PathLabs, Balmer Lawrie Investments and Noida Toll bridge Company, which will announce their quarterly results later in the day.