Indian stocks started Tuesday on a high note following the S&P 500 and Nasdaq 100's positive performance, which marked their eighth consecutive session of gains driven by dovish Federal Reserve expectations.
In the early trading hours, the benchmark S&P/BSE Sensex climbed 345 points, or 0.4%, to reach 80,770. Similarly, the broader NSE Nifty index rose 105 points, or 0.4%, standing at 24,678.
Zomato experienced a decline of over 1%, attributed to a significant block deal where 2% of its equity, valued at Rs. 5,438 crore, changed hands.
Conversely, IndusInd Bank saw a rise of 1.4% following the Reserve Bank of India's approval for launching a mutual fund business. Other notable gainers included TCS, SBI Life, Hero MotoCorp, and BPCL, which each saw their stocks increase by 1-2%.
Nucleus Software soared by more than 17% on the news of a share buyback program.
However, ONGC fell by 1.6% as oil prices continued to drop amidst concerns about China's demand and a reduction in geopolitical tensions after Israel agreed to a proposal addressing issues that were obstructing a ceasefire agreement in Gaza.
