Domestic markets open with gains for second day, tracking global cues

MUMBAI: The domestic markets on Tuesday opened with gains and continued with Monday rally, tracking strong global cues. Corporate earnings during the last week also strengthened investors' sentiments.

Key domestic market indices BSE Sensex surged 169 points to 61,111.48 at 9.20 am while Nifty went up 56 points to 18,167.45 at 9.20 in the morning.

The stocks that were gaining the most in the morning included JM Financial, J and L Bank, Credit ACC, VST Industries and 360 One Wam. Gland, Sapphire, National Standard and Rajratan were among the laggards on BSE during the morning session.

Maruti Suzuki, CarTrade, SBI Card and UCO Bank are some of the stocks which might declare their earnings today.

Most of the key indices in global markets were trading in the green when the domestic markets opened in the morning. In Asian markets, Japan's Nikkei was up 428 points, Hong Kong's Hang Seng and China's Shanghai were closed for Chinese Lunar New Year.

In European markets, FTSE rose 14 points, CAC was trading in the green, Deutsche surged 69 points while Refinitiv Europe was also trading in the green.

In the US markets, Dow Jones surged 254 points, Nasdaq was up 223 points, S&P rose 47 points while Refinitiv United States was up 4 points. On Monday, BSE Sensex had advanced 319.90 points to 60,941.67. The Nifty 50 index added 90.90 points to 18,118.55.

Reliance Industries on Monday dipped 0.54 per cent. On a consolidated basis, net profit of RIL declined 2.8 per cent to Rs 15,792 crore on 17.4 per cent increase in net sales to Rs 2,17,164 crore in the third quarter over Q3 December 2021.

RIL reported an exceptional income of Rs 2,836 crore in the third quarter. Kotak Mahindra Bank shares surged 1.13 per cent. The bank has reported net total income of Rs 7,753 crore in October-December from Rs 5,698 crore in the year-ago period. Profit after tax rose to Rs 2,792 crore from Rs 2,131 crore.

UltraTech Cement shares tumbled 4.62 per cent on Monday. The cement maker has reported consolidated profit after tax of Rs 1,058 crore in the December quarter from Rs 1,173 crore in Q3 FY22.