Markets end in green on Asian cues

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Mumbai: The BSE Sensex rose over 100 points in early trade today, continuing its winning spree for the 10th straight session, on positive global leads and sustained buying by domestic institutional investors.

Positive Asian cues and the rally in metals & FMCG stocks boosted sentiment, but the sharp correction in oil retailers capped upside.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 34,443.42 points, closed at 34,331.68 points - down 63.38 points or 0.18 per cent from its previous session's close.

The wider Nifty50 on the National Stock Exchange (NSE) fell by 22.50 points or 0.21 per cent to provisionally close at 10,526.20 points. The broader NSE Nifty stood above the 10,550-mark.

Hindalco shares soared as much as 8.8 percent, Vedanta jumped 6.7 percent and Tata Steel rallied 3.3 percent as base metal prices surged on supply worries following US sanctions on Russian companies.

However, stocks of oil marketing companies such as HPCL, BPCL and International Olympic Committee faced selling pressure in view of rising global oil prices.

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On Tuesday, the top gainers on the BSE Sensex were Power Grid, NTPC, Hindustan Unilever, ICICI Bank and ITC, while Axis Bank, Sun Pharma, Adani Ports, Wipro and Maruti were the major losers.

Information technology stocks bounced back from recent losses with the NSE IT index rising 1.14 percent.

TCS rose 0.43 per cent to Rs 3,173.05 and IndusInd Bank gained 0.69 per cent to Rs 1,857.45 ahead of earnings.

The Dow ended down 0.16%, while the S&P 500 gained 0.08 percent and the Nasdaq 0.19%.

The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the United States dollar in early trade at the interbank forex market today on fresh demand for the greenback from importers and banks.

According to the provisional data, FPIs offloaded shares worth rs 915.71 crore.