Sensex up 300 points, metal stocks rise

The key Indian equity indices traded on a positive note on Tuesday morning with the BSE Sensex rising over 300 points.

Healthy buying was witnessed in metal and telecom stocks.

Around 10.05 a.m., Sensex was trading at 48,703.10, higher by 316.59 points or 0.65 per cent from its previous close of 48,386.51.

It opened at 48,424.08 and has so far touched an intra-day high of 48,710.89 and a low of 48,399.53 points.

The Nifty50 on the National Stock Exchange was trading at 14,580.00, higher by 238.65 points or 0.66 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The markets are within their resistance patch of 14,500-14,700. If we are successful in crossing this on a closing basis, we should be headed to 15,000. If we are unable, we will be sideways and then head back to the previous lows of 14,200.”

The top Sensex gainers were Power Grid, Reliance Industries and Tata Steel, while the major losers were Axis Bank, Tech Mahindra and Kotak Mahindra Bank.