Sensex opens over 600 points higher, banking and metal stocks shine

Sensex opens over 600 points higher, banking and metal stocks shine

Equity benchmark indices rose during early hours on Tuesday tracking positive cues from other Asian markets and overnight gains in the United States and Europe.

The US Federal Reserve's corporate bond buying programme a day earlier boosted hopes of liquidity in domestic markets and outweighed fears of a resurgence in coronavirus cases worldwide.

At 10:15 am, the BSE SandP Sensex was up by 609 points or 1.83 per cent at 33,837 while the Nifty 50 edged higher by 159 points or 1.62 per cent at 9,972.

All sectoral indices at the National Stock Exchange were in the positive zone with Nifty metal and private bank gaining by 2.8 per cent each, PSU bank by 2.2 per cent, financial service by 3.1 per cent and realty by 2.5 per cent.

Among stocks, metal major JSW Steel rose by 4.5 per cent to Rs 192 per share while Tata Steel rose by 4.4 per cent to Rs 319.70 per share and Hindalco by 3.2 per cent.