Indian shares opened higher on Tuesday tracking gains in Asian peers as hopes of coronavirus vaccine boosted investor sentiment. Buying across the board lifted Nifty above 11,100 levels. At 9:15 am, the Sensex opened 1.08 percent, or 404.62 points, higher at 37,823.61, while the Nifty50 index opened at 11,126.10, up 103.90 points, or 0.94 percent.
Broader markets supported gains with Nifty Smallcap100 and Nifty Midcap100 indices up 0.61 percent and 0.85 percent respectively. All sectoral indices were trading in the green led by Nifty PSU Bank, Nifty IT, Nifty Financial Services and Nifty Auto.
Wipro, ICICI Bank, UltraTech Cements, Bajaj Finance and HDFC were the Nifty50 top gainers, while Bharti Infratel, Mahindra & Mahindra, Britannia Industries, IOC and Coal India were the top index losers.
Vodafone Idea fell over 5 percent after the Supreme Court of India reserved its order in the adjusted gross revenue (AGR) case directed AGR payments to be made on the Department of Telecom’s (DoT) assessed dues rather than the operator’s detailed self-assessments. The next hearing has been scheduled for August 10.
ACC shares rallied over 4 percent after the company’s net profit in April-June quarter declined 40.5 percent to Rs 270.9 crore from Rs 455.7 crore while revenue fell 37.3 percent to Rs 2,602.2 crore from Rs 4,149.8 crore, YoY.
Elsewhere in Asia, shares advanced as prospects of a deal by European Union leaders to jointly fund the recovery of their economies and hopes for a coronavirus vaccine lifted risk appetite, Reuters reported.
Japan's Nikkei rose 0.6 percent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.5 percent to edge near its four-month peak hit earlier this month.