At 9:30 am, BSE Sensex was trading marginally above the 35,000-mark after rising 129.94 points or 0.37 per cent. NSE Nifty was also trading higher by 56 points at 10,367.20. advertisement June 23, 2020 UPDATED: June 23, 2020 09:57 IST Market benchmarks Sensex and Nifty were trading higher in line with Asian stock markets. (Photo: Reuters) HIGHLIGHTS Sensex, Nifty rise marginally in early trade The positive start is in line with other Asian stock matkets IT stocks suffered after Donald Trump's decision on H-1B visas
Domestic markets on Tuesday opened in green as both benchmarks edged higher in line with Asian peers.
At 9:30 am, BSE Sensex was trading marginally above the 35,000-mark after rising 129.94 points or 0.37 per cent. NSE Nifty was also trading higher by 56 points at 10,367.20.
However, Sensex descended into negative territory by 10 am and fell below 35,000 points.
Some of the top gainers in early trade are IndusInd Bank, Bajaj Finance, UPLJSWSteel, Bajaj Finserv, NTPC, Titan and L&T.
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Meanwhile, the top laggards were IT stocks like TCS, Infosys, Wipro and HCL Tech.
Tech companies suffered during early trade after US President Donald Trump’s proclamation to suspend issuing of H-1B visas — popular among Indian IT professionals.
It may be noted that all sectoral indices except Nifty IT were trading in the green.
While there has been a marked increase in market volatility, market analysts are hopeful that the benchmarks will stabilise as investors look beyond the Covid-19 crisis.
However, fears of a second wave of the coronavirus have made investors edgy and could again drag markets lower over the next few days. It will also depend on whether India can flatten the infection curve.
India has so far recorded 4.4 lakh coronavirus cases, of which over 1.78 lakh are active cases.
Over 14,000 people have died in India after contracting the deadly virus.
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