 "Sensex opens above 25,500; metal shares surge")
Markets have started the trading session on a higher note tracking positive global cues along with metal and index heavyweight shares leading the gains.
By 9:30, the Sensex was higher by 103 points at 25,517 mark and the Nifty gained by 23 points at 7,634 levels.
Markets edged higher yesterday as a decline in crude oil prices boosted market sentiment. The BSE Sensex garnered 313.86 points or 1.25% to settle at 25,413.78 on that day, its highest closing level since 17 June 2014.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,288.16 crore on Monday, as per provisional data from the stock exchanges.
On the global front, Asian shares were off to a cautious start near a three-year high on Tuesday while the U.S. dollar was listless as investors took new bets that U.S. monetary policy will stay loose for some time.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.1%, though it was still within 0.3% from a three-year high hit three weeks ago. Japan's Nikkei gained 1.0%.
The official Purchasing Managers' Index (PMI) stood at 51 in June, the National Bureau of Statistics said on Tuesday, quickening from May's reading of 50.8 and in line with market expectations.
Back home, BSE Metal and Realty indices have surged over 1% followed by counters like Capital Goods, Oil & Gas and Auto, all gaining by nearly 1% each. However, IT and Healthcare counters are trading marginally lower.
Metal stocks have gained as data showed China's manufacturing expanded in June at the fastest pace this year. China is the world's largest consumer of copper and aluminum.
The main gainers on the Sensex are Hindalco, Maruti Suzuki, Coal India, ONGC and Sesa Sterlite. Hindalco has surged by over 4%.
Shares of oil marketing companies (OMCs) are trading higher by up to 3% in early trade on Tuesday after OMCs have raised petrol prices by Rs 1.69 a litre and diesel by 50 paise a litre.
Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) are trading higher between 1-3% on the Bombay Stock Exchange.
On the losing side, TCS, Sun Pharma, Infosys, Wipro and HDFC Bank have gained between 0.2-1%.
The broader markets continue their outperformance- BSE Midcap and Smallcap indices have gained by nearly 1% each.
The market breadth in BSE remains positive with 1,061 shares advancing and 259 shares declining.
By 9:30, the Sensex was higher by 103 points at 25,517 mark and the Nifty gained by 23 points at 7,634 levels.
Markets edged higher yesterday as a decline in crude oil prices boosted market sentiment. The BSE Sensex garnered 313.86 points or 1.25% to settle at 25,413.78 on that day, its highest closing level since 17 June 2014.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,288.16 crore on Monday, as per provisional data from the stock exchanges.
On the global front, Asian shares were off to a cautious start near a three-year high on Tuesday while the U.S. dollar was listless as investors took new bets that U.S. monetary policy will stay loose for some time.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked down 0.1%, though it was still within 0.3% from a three-year high hit three weeks ago. Japan's Nikkei gained 1.0%.
A string of fairly upbeat but relatively minor U.S. economic data published on Monday did little to weaken expectations, rekindled after surprisingly weak first quarter growth data, that the U.S. Federal Reserve will keep an easy monetary policy for some time.
China's factory growth rose to a six-month high in June on improving domestic and foreign demand, adding to signs that the economy is regaining strength after an unsteady start to 2014.The official Purchasing Managers' Index (PMI) stood at 51 in June, the National Bureau of Statistics said on Tuesday, quickening from May's reading of 50.8 and in line with market expectations.
Back home, BSE Metal and Realty indices have surged over 1% followed by counters like Capital Goods, Oil & Gas and Auto, all gaining by nearly 1% each. However, IT and Healthcare counters are trading marginally lower.
Metal stocks have gained as data showed China's manufacturing expanded in June at the fastest pace this year. China is the world's largest consumer of copper and aluminum.
The main gainers on the Sensex are Hindalco, Maruti Suzuki, Coal India, ONGC and Sesa Sterlite. Hindalco has surged by over 4%.
Shares of oil marketing companies (OMCs) are trading higher by up to 3% in early trade on Tuesday after OMCs have raised petrol prices by Rs 1.69 a litre and diesel by 50 paise a litre.
Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) are trading higher between 1-3% on the Bombay Stock Exchange.
On the losing side, TCS, Sun Pharma, Infosys, Wipro and HDFC Bank have gained between 0.2-1%.
The broader markets continue their outperformance- BSE Midcap and Smallcap indices have gained by nearly 1% each.
The market breadth in BSE remains positive with 1,061 shares advancing and 259 shares declining.