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Markets open higher; Nifty reclaims 10,600 level

Investors are also eyeing Q3 GDP data, to be released tomorrow. 

Markets open higher; Nifty reclaims 10,600 level

New Delhi: The Benchmark indices opened higher on Tuesday led by positive buying in pharma and auto stocks.

The BSE Sensex was quoting 164.69 points or 0.48 percent up to 34,610.44 in early morning trade. The NSE Nifty50 reclaimed the 10,600-mark, by rising 32.65, or 0.30 percent, to 10,615.25. Benchmark BSE Sensex advanced by 132.64 points, or 0.38 percent, to 34,578.39 in early session. The gauge has gained 626.25 points in the previous two sessions.

The rupee meanwhile depreciated 4 paise to 64.83 against the US dollar in opening trade at the forex market due to increased demand for the US currency from importers amid sustained foreign funds outflow.

Asian shares extended their recovery on Tuesday, hitting a three-week high as US borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell`s highly-anticipated first congressional testimony later in the day.

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, building on its bounce from a two-month low touched on Feb. 9.

It has now recouped more than 60 percent of its losses from a sharp global rout in early February.

Japan`s Nikkei rose 1.0 percent to three-week highs.

On Wall Street, the S&P 500 advanced 1.18 percent on Monday helped by fall in US bond yields.

With Agency Inputs