Sensex Opening Bell: Positive start in the stock market; Sensex climbed 250 points, Nifty reached close to 24650

The benchmark equity indices Sensex and Nifty gained in the early trade on Tuesday, driven by positive global cues and persistent buying by retail investors. The 30-share BSE Sensex jumped 338.21 points to 80,762.89 in early sessions.

The NSE Nifty went up by 87.65 points to 24,660.30. Major gainers in the 30-share Sensex pack included Tata Consultancy Services, IndusInd Bank, NTPC, Axis Bank, UltraTech Cement, Power Grid Corp., Infosys, and Bajaj Finserv. Bharti Airtel, Tata Steel, JSW Steel, and Tata Motors hence trailed. In Asian markets, Seoul and Tokyo ended higher while Shanghai and Hong Kong declined. US markets closed in the positive zone on Monday.

Prashant Tapase, Senior Vice President (Research), Mehta Equities Ltd, said, "The main reason for the strength and rally on Dalal Street is the continued SIP inflows from retail investors. Global factors will also be watched as local investors will be eyeing the minutes of the July FOMC (Federal Open Market Committee) meeting to be released on Wednesday."

According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 2,667.46 crore on Monday. However, domestic institutional investors (DIIs) bought shares worth Rs 1,802.92 crore.

Global oil benchmark Brent crude fell 0.79 per cent to $77.05 per barrel. Trading in a narrow range, the BSE benchmark had closed 12.16 points, or 0.02 per cent, lower at 80,424.68 on Monday. Meanwhile, in volatile trading, NSE Nifty rose 31.50 points or 0.13 percent to 24,572.65 points.