Sensex, Nifty open higher; pare gains in early morning trade

The rupee made a cautious recovery of 18 paise to 73.88 against the dollar in early trade.

Sensex, Nifty open higher; pare gains in early morning trade

New Delhi: Markets opened higher on Tuesday with the Sensex rising above 34,500 and the Nifty gaining back 11,300.

The benchmark BSE Sensex opened 150 points higher on buying by domestic institutional investors (DIIs) and rupee recovery.

It, however, pared gains and was trading 44.80 points, or 0.13 per cent, up at 34,519.18. The index had gained 97.39 points in the previous session.

Similarly, NSE Nifty too turned choppy and was trading marginally lower at 10,358.70.

The rupee made a cautious recovery of 18 paise to 73.88 against the dollar in early trade.

DIIs bought shares worth a net of Rs 1,974 crore on Monday, while foreign institutional investors (FIIs) sold shares to the tune of Rs 1,805 crore, as per provisional data.

Asian shares hit 17-month lows on Tuesday as China allowed its currency to slip past a psychological bulwark. MSCI`s broadest index of Asia-Pacific shares outside Japan eased another 0.2 percent after ending Monday at its lowest point since May last year. Japan`s Nikkei fell 1.2 percent, hurt in part by a rise in the safe-harbour yen, Reuters said.

The S&P 500 lost 0.04 percent and the Nasdaq Composite 0.67 percent, while the Dow rose 0.15 percent as defensive stocks found buyers.

With Agency Inputs

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