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Market Update: SENSEX Rises 0.3%
The BSE SENSEX went up 140 points or 0.3% to 50,792 in early deals on Tuesday, extending gains in the prior session and mirroring US stocks that ended higher overnight, amid a drop in US Treasury yields and optimism about a solid economic rebound this year. At the same time, market participants were upbeat as domestic coronavirus cases slowed. Official data showed India on Tuesday posted 196,427 new cases over the last 24 hours, its lowest daily rise in infections since April 14th. Market participants now look toward the release of US consumer prices and the 2nd estimate Q1 GDP later in the week. In business news, Automakers Renault its alliance partner Nissan Motor and Hyundai Motor face temporary factory closures in India due to growing unrest among workers concerned about the outbreak, according to Reuters. Oil and Natural Gas Co and Asian Paints Ltd jumped 3.3% and 3.1%, each. [/s2If]
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