Sensex up over 200 points, Nifty above 10,400 mark in opening trade

New Delhi: The BSE Sensex rose on Tuesday over 200 points to open above 34,000 mark while the NSE Nifty shed gained over 60 points to trade above 10,400 level.

BSE Sensex was trading 251.91 points or 0.75 percent up at 33,998.69 at 9.31 am. Positive buying was seen in banking, pharma and auto stocks.

Major gainers that supported the recovery were IndusInd Bank, Yes Bank, Tata Motors, ICICI Bank and Dr Reddy's.

Brokers said a fresh spell of buying by investors in beaten-down stocks and a firm trend at other Asian bourses aided gains in key indices after four days of losses.

Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 154.20 crore, while foreign portfolio investors (FPIs) sold shares of Rs 366.60 crore on Monday.

Asian share regained some ground on Tuesday after U.S. President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminium tariffs, easing investor worries about an imminent trade war.

Sentiment was also supported by receding risk aversion in Europe with the euro gaining support from the creation of a coalition government in Germany and the impact of Italy`s inconclusive election results limited to a mild sell-off in domestic bonds and stocks.

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 1.3 percent while Japan`s Nikkei jumped 2.3 percent, a day after it hit a five-month low.

Indian equities on Monday extended their fall with the BSE Sensex plunging by over 300 points and the NSE Nifty by nearly 100 points after fears of a global trade war rattled investors.

The benchmark Sensex slipped to a near two-week low of 33,747 as market participants weighed the likely impact of US President Donald Trump's plans to levy stiff tariffs on steel and aluminium imports, triggering a free fall in metal stocks.

With Agency Inputs