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Sensex Surges 235 Points in Early Trade as IT and Auto Stocks Make Strides

In the early trading session on Tuesday, the benchmark equity indices Sensex and Nifty showcased a positive trend, supported by buying activity in major index constituents such as HDFC twins and Infosys. This uptick in the Indian stock market occurred amidst a mixed trend observed in Asian markets.

The 30-share BSE Sensex witnessed a gain of 235.52 points, reaching a level of 63,205.52 during early trade. Similarly, the NSE Nifty advanced by 72.4 points, settling at 18,763.60.

Among the Sensex constituents, notable gainers included Tata Steel, Mahindra & Mahindra, Asian Paints, Infosys, Bharti Airtel, Tata Motors, Larsen & Toubro, NTPC, HDFC, and HDFC Bank. Conversely, Titan, IndusInd Bank, Hindustan Unilever, ICICI Bank, Maruti, and ITC were among the stocks that witnessed a decline in early trade.

In Asian markets, Shanghai and Hong Kong experienced positive movements, while Seoul and Tokyo exhibited lower trading levels. The markets in the United States concluded on a negative note on Monday.

Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., noted that recent intra-day strength in the Indian stock market has been primarily driven by a select few companies within a limited range of sectors.

Furthermore, the global oil benchmark, Brent crude, witnessed an increase of 0.47 percent, reaching USD 74.53 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 409.43 crore on Monday, reflecting their trading activity.

During lackluster trading on Monday, the BSE benchmark experienced a marginal dip of 9.37 points, equivalent to 0.01 percent, settling at 62,970. This marked the third consecutive day of decline for the index. On the other hand, the Nifty edged up by 25.70 points or 0.14 percent, concluding at 18,691.20.

Overall, the early trading session on Tuesday witnessed a positive momentum in the Sensex and Nifty, driven by specific stocks and sectors. Investors and market participants closely monitored global market trends and factors influencing the Indian stock market's performance.

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