Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Major gainers and laggards
From the Sensex basket, JSW Steel, Power Grid, NTPC, Mahindra & Mahindra, Reliance Industries and State Bank of India were the major gainers. Nestle, Asian Paints, Axis Bank and ITC were among the laggards. Retail inflation eased to an 11-month low of 4.83 per cent in April as prices of some kitchen items declined though overall food basket firmed up marginally, according to government data released on Monday. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower.
Rupee against dollar
Meanwhile, the rupee opened on a flat note against the US dollar in early trade on Tuesday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices. Forex traders said the rupee remains under pressure due to ongoing elections as well as foreign fund outflows and the same shall subside once the results are out. At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83. 51 against the American currency, unchanged from its previous close.
(With PTI inputs)
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