Sensex, Nifty Move Higher As Stocks Rise On Bargain Hunting

(RTTNews) - Indian shares are up firmly in positive territory Tuesday morning with traders indulging in some bargain hunting at several counters following recent steep losses. Positive lead from global markets contribute to the buying interest on the Indian bourses.

Technology, automobile, bank and realty stocks are among the prominent gainers. Several stocks from the media sector are up with impressive gains.

The BSE benchmark Sensex, which climbed to 78,309.57, was up 943.18 or 1.22% at 78,282.19 a little while ago. The broader Nifty50 index of the National Stock Exchange was up 278.85 points or 1.19% at 23,732.65.

Mahindra & Mahindra, Titan, Adani Ports, Tech Mahindra and Tata Motors are gaining 2.5 to 3%. Tata Consultancy Services and IndusInd Bank are up 2.3% and 2.2%, respectively.

HDFC Bank, UltraTech Cement, Infosys, Power Grid Corporation, ITC, Reliance Industries, HCL Technologies and Larsen & Toubro are up 1 to 2%. NTPC and Bharti Airtel are also notably higher.

Trent is gaining about 2.85%. ONGC is up 2.75%. Eicher Motors, BPCL, Hero Motocorp, BEL, Dr Reddy's Laboratories and Coal India are also up with strong gains.

HDFC Life, SBI Life, Bajaj Financial Servies and Hindalco are down 0.7 to 1.7%.

Auto components stocks Motherson Sumi, Exide Industries, Bharat Forge, Bosch, Apollo Tyre and Balkrishna Industries are up sharply.

Media stocks PVR Inox, Sun TV Network, Dish TV, Nazara, Den, Hathway, Saregama and TIPS Musci are up 1.5 to 3.4%.

Waaree Energies Limited reported a net profit of Rs 375.65 crore for the quarter ended September 30, 2024, compared to Rs 320.12 crore in the corresponding quarter of the previous year. The stock is down 3.7%.

Adani Green Energy will be in focus on reports the company is preparing to launch a US$ 600 million bond issue in the next few days. The stock is gaining about 0.5%.

Bajaj Finance Limited reported a 21% increase in its Fixed Deposit book to Rs 66,131 crore as of September 30, 2024. The stock is up 0.5%.

Ashoka Buildcon Ltd is gaining about 2.7% after the company announced in a filing to the stock exchanges on Monday that it has been declared the lowest bidder for projects worth Rs 2,791 crore by the National Highways Authority of India.

The market breadth is very strong. On BSE, 2,903 stocks are up in positive territory. 843 stocks are trading weak, while 131 stocks are little changed from their previous closing levels.