SENSEX opens 200 pts higher, NIFTY above 24,600; IndusInd Bank up 1%

As indicated by GIFT Nifty futures, the domestic benchmark indices opened with decent gains on Tuesday, August 20. At 09:18 AM, the 30-share index, SENSEX, of the BSE was trading 173 points, or 0.22% higher at 80,597.86 levels, while the broader NIFTY50 was quoting 58.80 points, or 0.24% higher at 24,631.45. 

In the broader market, the BSE MidCap index was trading at 47,709.62, up 0.13%, while the BSE SmallCap was up 0.31% at 54,741.03 levels. 

Buzzing Stocks

IndusInd Bank gained in trade as the lender has received the Reserve Bank of India’s (RBI’s) nod to set up a mutual fund asset management business. It will be a wholly-owned subsidiary, the bank said in its filing with the exchanges on Monday.

Zomato shares were down over 1% amid reports that Alibaba arm Antfin Singapore was likely to sell a 1.54% stake in the company via block deals today.

Sectoral indices

Tech stocks were the biggest gainers in the early trade, followed by oil, gas, and energy stocks. Last seen, the S&P BSE IT index was trading nearly 1% higher at 42,292.69 points.