Opening bell: Equity indices swing higher, metal and pharma stocks gain
Video Credit: ANI - Duration: 01:20s - Published
Opening bell: Equity indices swing higher, metal and pharma stocks gain
Equity benchmark indices swung higher during early hours on Tuesday amid mixed global cues with metal and pharma stocks witnessing substantial gains.
At 10:15 am, the BSE SandP Sensex was up by 727 points or 1.48 per cent at 49,735 while the Nifty 50 edged higher by 220 points or 1.51 per cent to 14,727.Except for Nifty realty which dipped marginally, all other sectoral indices at the National Stock Exchange were in the green with Nifty metal up by 2.6 per cent, pharma by 2 per cent, FMCG by 1.8 per cent and private bank by 1.4 per cent.
Among stocks, JSW Steel gained by 3.7 per cent to Rs 461.90 per share while Tata Steel was up by 3.3 per cent to Rs 792.70.
Market pressure persisted for the third consecutive session as key indices, including Sensex, Nifty, and Nifty Bank, witnessed notable declines. The midcap index closed in the red despite performing relatively better. Geopolitical tensions between Iran and Israel contributed to the market downturn. US stock futures dipped after major benchmarks suffered losses, while European and Asia-Pacific markets also experienced significant drops.
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Unions have warned of a bitter fight ahead, saying their plans to avert thousands of job losses at Tata Steel have been rejected by the company. Sky News
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