BSE Sensex opens 303.75 points up at 38485.83, Nifty above 11350

MUMBAI: Indian indices opened in the green on the back of positive global cues amid encouraging economic data on Tuesday (August 11, 2020). At 09:16 IST, the S&P benchmark Sensex was up 303.75 points or 0.80% at 38485.83, and the Nifty was above 11350 level. Nifty was up 86.20 points or 0.76% at 11356.40.

About 911 shares have advanced, 209 shares declined, and 31 shares are unchanged as the Indian stock markets opened.

According to the market indicators, global news flows, earning outcome of domestic companies would be key monitorables to watch in today’s trade. Besides, investors will also watch closely the industrial output data for June scheduled to be released today.

Investors will also react to the results of Bank of Baroda and Titan, both the companies posted a net loss in the June quarter largely as the Covid-19 induced lockdown hurt operations.

Domestic markets ended higher led by gains in pharma stocks amid strong earnings and in defence stocks after the government announced measures to boost domestic defence production. US markets ended mixed as optimism on President Trump signing executive order to extend COVID relief package was offset by concerns around escalating US-China tensions.

Indian benchmark share indices closed higher on Monday lead by healthy buying in pharma stocks. Sensex settled at 38,182.08, up 141.51 points or 0.37%, while Nifty ended 56.10 points or 0.5% higher at 11,270.

Mahindra & Mahindra, rising nearly 5%, was the top Sensex gainer followed by L&T, Sun Pharma, Tech Mahindra and NTPC. Reliance Industries, Asian Paints and Maruti Suzuki were among the top laggards on the other hand. Of 30 Sensex shares, 12 closed in the red.

BSE Healthcare, closing 4.7% higher, was the top sectoral gainer followed by BSE Capital Goods, BSE Realty and BSE Industrials.