The benchmark indices opened on a positive note on Tuesday (October 26). At 09:15 AM, the Sensex was up 156.51 points or 0.26 percent at 61123.56, and the Nifty was up 39.40 points or 0.22 percent at 18164.80. About 1049 shares have advanced, 492 shares declined, and 93 shares are unchanged.
Tech Mahindra, Bajaj Finserv, Tata Steel, Bharti Airtel were among major gainers while Kotak Bank, Axis Bank, Asian Paint, PowerGrid and ICICI Bank were among major losers at the opening bell.
US stocks close at record high
The Dow Industrials and S&P 500 closed at record highs on Monday, as earnings season kicked in to high gear in one of the heaviest reporting weeks of the quarter with bellwethers in multiple sectors poised to announce results.
The Dow Jones Industrial Average rose 64.13 points, or 0.18 percent, to 35,741.15, the S&P 500 gained 21.58 points, or 0.47 percent, to 4,566.48 and the Nasdaq Composite added 136.51 points, or 0.9 percent, to 15,226.71.
Asia-Pacific markets rise in early trading
Stocks in Asia-Pacific rose in Tuesday trade after major indexes on Wall Street rose to record closing highs stateside. Japanese stocks led gains regionally as the Nikkei 225 jumped 1.85 percent while the Topix index gained 1.39 percent.
Oil prices touch multi-year highs
Oil prices reached multi-year highs on Monday before steadying, as tight global supply and strengthening fuel demand in the United States and beyond supported prices.
Brent crude futures gained 46 cents to settle at $85.99 a barrel. The contract reached a session high of $86.70 a barrel, its highest level since October 2018.
Dollar up in early trade
The dollar was up in early trading Tuesday morning in Asia, following a high reached overnight during the US trading session.
The strengthening of the dollar comes as reports in China suggests the government may be shifting its focus away from tighter regulation of sectors it is concerned about and towards shoring up growth.
With the US Treasury yield curve steepening and bonds with shorter maturity climbing, the dollar rose. The US Dollar Index that tracks the greenback against a basket of other currencies was up 0.04% to 93.84 by 9:30 PM ET (01:30 AM GMT).
The USD/JPY pair was up 0.14 percent to 113.85. The yen has been strengthened against the USD over the past few days after hitting the 114-mark last week. Japan’s Producer Price Index for September rose 0.9% year-on-year compared to an expected increase of 1% and a similar increase in August.
Economy likely to register 9.5% growth
The economy is likely to register a 9.5 percent growth this fiscal over 7.3 percent contraction last year, as the ongoing recovery is faster and more credible than earlier foreseen, according to UBS Securities report.
It will gather more momentum in the second half of the current fiscal, but will slow down to 7.7 percent next financial year, it added.
South Korea's economy grew at a slower pace in the third quarter, as robust exports were offset by weak domestic demand and construction and facility investments, data from the Bank of Korea showed on Tuesday.
Gross domestic product (GDP) grew a seasonally adjusted 0.3 percent in the September quarter from three months earlier, slowing from 0.8 percent growth in the preceding quarter and missing a median 0.6% growth tipped in a Reuters survey.
Sebi penalises three firms
Markets regulator Sebi on Monday imposed monetary penalty on three employees of Titan Company Ltd for violating insider trading norms.
The regulator had received a letter from Titan wherein it intimated about violation of Prevention of Insider Trading (PIT) regulations and the company's code of conduct for the prevention of insider trading by some of its designated persons/employees.
Quarterly results today
Axis Bank, Kotak Mahindra Bank, Bajaj Finance, ABB India, Cipla, Ambuja Cements, Asahi Songwon Colors, Best Agrolife, Birlasoft, Canara Bank, Central Bank of India, Century Enka, Cera Sanitaryware, Coromandel Engineering, Gati, Greaves Cotton, Greenlam Industries, Hikal, IRB Infrastructure Developers, Jindal Stainless, Dr Lal PathLabs, Mahindra Lifespace Developers, Meghmani Finechem, Mahanagar Gas, Meghmani Organics, Mangalore Refinery & Petrochemicals, Nippon Life India Asset Management, Persistent Systems, PI Industries, Sharda Cropchem, Shiva Cement, Surya Roshni, Symphony, Torrent Pharmaceuticals, Triveni Turbine,Wabco India, and Zensar Technologies.
Six stocks under F&O ban
Six stocks - Escorts, Indiabulls Housing Finance, Indian Energy Exchange, NMDC, SAIL, and Sun TV Network -are under the F&O ban.