Sensex Up Over 200 Points; Nifty Climbs Above 10,400


Indian shares opened higher on Tuesday, tracking firm global markets as worries about an imminent trade war eased somewhat and investors brushed off the inconclusive election result in Italy.

The benchmark BSE Sensex was up 236 points or 0.70 percent at 33,983 in early trade after dropping for the fourth straight session on Monday to close at a two-week low. The broader Nifty index was up 68 points or 0.66 percent at 10,427.

The dollar edged higher as U.S. President Donald Trump faced growing pressure from political and diplomatic allies to pull back from proposed steel and aluminum tariffs.

Some market participants also view the tariff threats more as a negotiating tactic to get a better deal on NAFTA.

Banks SBI and ICICI Bank rose about 1 percent after the Reserve Bank of India (RBI) said it would inject additional liquidity of Rs 1 lakh crore in March through longer tenor instruments.

Reliance Infrastructure rallied 1.7 percent. The company has filed an arbitration notice of Rs 5,440.38-crore against Pipavav Defence and Engineering Ltd "for breach of warranties".

IndusInd Bank climbed 2.3 percent after invoking 6 crore pledged shares of the crisis-hit Jaypee Infratech.

Unitech shares advanced 1.4 percent. The Supreme Court has ordered the embattled real estate company to furnish a list of encumbered properties owned by it and its subsidiaries by March 12.

Reliance Communications rose over 1 percent after an arbitration court banned the telecom company from selling assets without its permission.

Sun Pharmaceutical Industries was marginally higher. The company said that the three observations issued by the U.S. FDA to its Halol plant are minor in nature.

Wanbury dropped almost 2 percent after announcing completion of U.S. FDA audit at its major API facility in Tanuku Plant, Andhra Pradesh.