Sensex Today: After India’s inflation rate climbed to a three-month high of 6.5 per cent in January, started higher on Tuesday Morning amid positive global sentiments. Key indices Nifty50 climbed over 50 points to trade above 17,800 levels, whereas the S&P BSE Sensex advanced over 200 points to trade around 60,676 levels.
Broader markets, however, exhibited mixed trends as Nifty MidCap 100 index outperformed Nifty SmallCap 100 index.
Sectorally, Nifty IT index was off to a positive start as it rose 0.9 per cent, while Nifty Realty and Nifty Media indices declined up to 0.6 per cent.
Global Cues
Asian shares tracked the bounce on Wall Street on Tuesday, as investors remained sanguine that key U.S. economic data due later would show an easing in inflation, while the yen recouped losses ahead of the nomination of a new central bank governor.
Tokyo shares opened higher on Tuesday following Wall Street gains in an optimistic round of trading ahead of key US inflation data.The benchmark Nikkei 225 index gained 1.00 percent, or 273.28 points, to 27,700.60 in early trade, while the broader Topix index rose 0.95 percent, or 18.86 points, to 1,996.53.
Wall Street closed sharply higher on Monday as investors awaited inflation data likely to hint at the path of the Federal Reserve’s future interest rate hikes, while Meta Platforms gained after a report that the Facebook parent was planning fresh layoffs.
Oil prices fell in early Asian trade on Tuesday after the U.S. government said it will release more crude from its Strategic Petroleum Reserve (SPR) and on other reports that more supply is coming into the market.Brent crude futures fell by 82 cents, or 1%, to $85.79 per barrel by 0132 GMT, while U.S. crude futures fell by $1.04, or 1.3%, to $79.10 per barrel.
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