Markets open higher as global stocks try to find footing

New Delhi: Markets opened higher on Monday amidst figures of retail inflation that fell to 9-month low of 4.17 percent in July and as global stocks try to find footing.

The BSE Sensex jumped 184.93 points, or 0.49 percent, to 37,829.83. The gauge had lost 379.47 points in the previous two sessions. Similarly, the NSE index Nifty recovered by 36.25 points, or 0.31 percent, to 11,392.

Tata Steel, Axis Bank, ITC, ICICI Bank, HDFC, SBI, Yes Bank, Asian Paints, HUL, Bajaj Auto, Kotak Bank, HDFC Bank, Tata Motors and RIL, were among the prominent gainers.

The rupee meanwhile recovered from all-time low of 69.91 and strengthened by 23 paise to 69.68 against the US dollar in opening trade at the interbank foreign exchange market today on some macroeconomic boost.

Yesterday, the rupee had plunged by Rs 1.08, or 1.57 per cent, to a record low of 69.91 against the US currency amid fears that Turkish currency turmoil could turn out into global financial crisis.

Asia share markets tried to regain on Tuesday as tremors from the collapse of the Turkish lira ebbed a little and Wall Street proved resilient to the shockwaves.

Japan`s Nikkei led the early running with a gain of 1.0 percent, while Australia added 0.4 percent.

MSCI`s broadest index of Asia-Pacific shares outside Japan was flat having found support above the July low of 525.52. EMini futures for the S&P 500 edged up 0.2 percent, while 10-year Treasury yields held at 2.88 percent.

With Agency Inputs