Equity indices on firm footing, realty stocks surge

Equity indices on firm footing, realty stocks surge

Equity benchmark indices were upbeat during early hours on Tuesday with fresh buying from foreign and domestic buyers amid firm cues from their Asian peers.

At 10:15 am, the BSE SandP Sensex was up by 422 points or 0.87 per cent at 48,986 while the Nifty 50 surged by 117 points or 0.82 per cent to 14,398.

All sectoral indices at the National Stock Exchange were in the green zone with Nifty realty jumping by 4.5 per cent, PSU bank by 1.4 per cent, financial service by 0.9 per cent and auto by 0.8 per cent.

Among stocks, Godrej Properties was up by 3.9 per cent to Rs 1,408.60 per share DLF Ltd surged ahead with gains of 6.3 per cent to Rs 294.20.

Tata Motors moved up by 3.4 per cent, Grasim by 3 per cent, SBI Life by 2.6 per cent and Reliance Industries by 1.8 per cent.

However, those which lost marginally were HDFC Bank, Mahindra and Mahindra, ITC, Hindustan Lever and Bharat Petroleum Corporation.

Meanwhile, Asian shares climbed as investors wagered China's economic strength will help underpin growth in the region.

MSCI's broadest index of Asia Pacific shares outside Japan firmed 0.98 per cent.

Japan's Nikkei bounced 1.5 per cent while Hong Kong's Hang Seng advanced 1.8 per cent.