Sensex rises 100 points, Nifty above 11,600; Maruti jumps 4%

NEW DELHI: Domestic benchmark indices Sensex and Nifty traded on a positive note in Tuesday's session as the euphoria over corporate cut tax persisted on Dalal Street.

Global shares ticked up after US Treasury Secretary Steven Mnuchin said US-China trade talks will resume next month, according to a Reuters report, but lingering concerns about slowing global growth tempered the overall appetite for riskier assets.

Many experts back home have said that markets could witness profit booking and consolidate after two days of massive rally.


At around 9.40 am, BSE benchmark Sensex was trading 120 points higher at 39,210 while NSE Nifty was at 11,617, up 17 points.

Auto stocks continued their bullish run with Maruti Suzuki gaining as much as 4 per cent. The shares of India's largest carmaker rose after its Chairman R.C. Bhargava said that the cars sales in September will be higher than the previous month. Tata Motors up 2 per cent, battery makers Exide and Amar Raja batteries were other auto stocks that traded higher. Nifty Auto was up about 1.2 per cent.

In the 50-pack Nifty, 28 stocks were in the green and the rest in the red. The biggest loser on the index was debt-riddled Zee Entertainment. The stocks lost 1.7 per cent in the early trade after reports that mutual funds are dumping its pledged shares.

India VIX appreciated further, climbing close to 18-level, registering about 6 per cent jump on Tuesday.

IT stocks, which have been beaten down in the last two sessions, opened higher on Tuesday. All but one constituent of the Nifty IT index was trading in the green. Infosys was the biggest gainer of the pack, climbing 1.5 per cent.

Foreign investors (FIIs) returned to Dalal Street on Monday, net buying stocks worth of Rs 2,684 crore.