Indian equity benchmark indices opened higher on Tuesday with Nifty above 15,400.
At 09:16 am, the S&P BSE Sensex was up 405.99 points or 0.79 percent at 52,003.83, and the Nifty was up 117.30 points or 0.76 percent at 15,467.50.
Hindalco Industries, Adani Ports, Tata Motors, Tata Steel and IndusInd Bank were among major gainers on the Nifty.
Hindustan Unilever, UltraTech Cement, Asian Paints and Maruti Suzuki were among the major laggards.
Sectorally, beaten down metals pack, which slumped in the previous session, also regained some lost ground rising around 2 percent on the Nifty. This was followed by firm gains in Auto, IT, Pharma and PSB indices.
In the broader markets, the BSE MidCap and SmallCap indices also opened firmly higher, rising 1 percent each.
Global Markets
US stock markets were closed earlier Monday for Juneteenth. Economists at Nomura Holdings said that the US economy will likely fall into a mild recession by the end of 2022 as the Federal Reserve raises rates to tame prices.
Asia-Pacific markets were mostly buoyant on Tuesday while bitcoin continued to rise after a recent rebound. Australia’s central bank says inflation will peak by the end of the year ahead ahead of a meeting minutes release this morning.
Oil prices rose 1% in early trade on Tuesday, clawing back more of last week's losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track.
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