Key Indian equity indices rise on Asian cues

Mumbai: Key Indian equity indices traded marginally higher on Tuesday afternoon following the footsteps of their Asian stocks and easing concerns over escalation of trade war between the US and China.

“Indian equities are trading in the green for the fourth consecutive session. US stock futures rallied, Asian shares bounced and the yen fell on Tuesday as Chinese President Xi Jinping promised to lower import tariffs on products including cars,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

At 12.53 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 18.45 points or 0.18 per cent at 10,397.80 points.

The barometer 30-scrip Sensex of the BSE, which opened at 33,880.11 points, traded at 33,870.70 points (at 12.53 p.m.) — up 82.16 points or 0.24 per cent from its previous session’s close.

The Sensex has so far touched a high of 33,949.98 points and a low of 33,813.30 during the intra-day trade.

The BSE market breadth was, however, bearish with 1,316 declines and 1,160 advances.

IndusInd Bank, ICICI Bank, Axis Bank, Adani Ports, Tata Steel and Coal India were the top gainers on the BSE. Top losers were Hero MotoCorp, Mahindra and Mahindra, Tat Motors (DVR), Tata Motors and HDFC Bank.

On the NSE, ICICI Bank, Axis Bank and Hidalco led the gainers, while Hero MotoCorp, Mahindra and Mahindra and Tata Motors were among the top losers.