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Sensex climbs over 200 points; Tata Motors up 9%

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Domestic stock markets opened at new all-time highs, maintaining the momentum seen in the previous session, driven by a rally in Tata Motors and interest in the likes of M&M, Tata Consumer Products and Bajaj Finance. At 9:18 am, the BSE Sensex is up at 60,521.55, up 243 points or 0.40 per cent and the NSE Nifty is up 89.70 points or 0.52 per cent at 18,079.05.

Asian indices were mixed in early trade; Strait Times and Kospi rose 1-1 per cent each, while Taiwan Weighted and Shanghai Composite were trading flat.

US stocks ended lower on Tuesday night as investors raked in third-quarter earnings, while a jump in Tesla shares helped support the market. The Dow Jones Industrial Average fell 0.34 per cent, the S&P 500 0.24 per cent and the Nasdaq Composite 0.14 per cent.

On the economy front, the International Monetary Fund (IMF) retained India’s growth forecast for 2021 at 9.5 per cent. The IMF in its latest WEO update ahead of its annual meeting lowered the global economic projection from six per cent to 5.9 per cent. world Bank.

Retail inflation fell sharply to 4.35 per cent in September 2021 from 5.30 per cent in August 2021, mainly due to a sharp fall in food prices. Food prices fell below one per cent to 0.68 per cent in September, a free fall from the level of 3.11 per cent seen in August 2021.

On the earnings front, Infosys, Wipro, Mindtree and Aditya Birla Money will declare their second quarter earnings during the day.

Benchmark indices closed at record highs on Tuesday. The BSE Sensex closed 148.53 points higher at 60,284.31 and the NSE Nifty climbed 18,000 points for the first time on Tuesday, up 46 points at 17,992.

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