Sensex up 250 points after initial choppy trade

MUMBAI: The key Indian equity indices witnessed a sudden rise on Tuesday after trading on a volatile and choppy note initially, with the BSE Sensex trading 250 points higher.

At 10.55 a.m., Sensex was trading at 34,626.67, higher by 256.09 points or 0.75 per cent from the previous close of 34,370.58.

It had opened at 34,520.79 and so far touched an intra-day high of 34,738.07 and a low of 34,268.55 points.

The Nifty50 on the National Stock Exchange was trading at 10,250.95, higher by 83.50 points or 0.82 per cent from its previous close.

So far, healthy buying was witnessed in healthcare, FMCG, finance and banking stocks.

US stocks ended higher, building on prior week's solid gains. On Monday, the Dow Jones Industrial Average jumped 461.46 points, or 1.70 per cent, to 27,572.44. The S&P 500 increased 38.46 points, or 1.20 per cent, to 3,232.39. The Nasdaq Composite Index was up 110.66 points, or 1.13 per cent, to 9,924.74, Xinhua news agency reported.

Boeing shares soared 12.2 per cent, leading the advancers in the Dow. All the 11 primary S&P 500 sectors traded on an upbeat note, with energy closing up 4.32 per cent, outpacing the rest.

Shares of airlines, retailers and cruise lines rose broadly as investors were hopeful about normalizing economic activities amid COVID-19 lockdown easing.

This week features a key meeting from the Federal Reserve. Wall Street will concentrate on the US central bank's statement on interest rates Wednesday and a press conference from Chairman Jerome Powell. For the week ending Friday, the Dow advanced 6.8 per cent, the S&P 500 gained 4.9 per cent and the Nasdaq climbed 3.4 per cent. (IANS) 

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