Early trading sees markets rising on strong worldwide trends, continuing their winning streak into the third day

Tuesday saw benchmark equities indexes maintain their upward trend for the third day in a row under stable global market conditions.

The 30-share BSE Sensex rose 411.27 points to 74,059.89 in early trading, capping its third straight day of rallying. At 22,447.55, the NSE Nifty had a 111.15 point increase.

Bharti Airtel, Titan Company, HCL Technologies, Mahindra & Mahindra, Bajaj Finserv, and Tata Motors were the top gainers from the Sensex basket.

Axis Bank, JSW Steel, Power Grid, and Larsen & Toubro were a few of the laggards.

Shanghai quoted lower than Seoul, Tokyo, and Hong Kong, which were all trading in positive territory in the Asian markets.

On Monday, Wall Street concluded in positive territory.

The benchmark for world oil, Brent crude, increased by 0.38 percent to USD 87.33 a barrel.

The market’s undercurrent of bullishness has been strengthened during the last two trading days, as the Nifty spiked up 486 points from Friday’s lows. The underlying positive trend is not being affected by outside variables such as the high US bond rates (the 10-year is over 4.6%) and geopolitical worries in the Middle East, according to V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Following a day’s respite, Foreign Institutional Investors (FIIs) offloaded stocks valued at Rs 2,915.23 crore on Monday, per exchange data.

On Monday, the BSE benchmark increased by 560.29 points, or 0.77 percent, to end the day at 73,648.62. To reach 22,336.40, the NSE Nifty increased by 189.40 points, or 0.86 percent.