A man looks at a screen across the road displaying the election results on the facade of the BSE building in Mumbai
A man looks at a screen across the road displaying the election results on the facade of the BSE building in MumbaiReuters

BSE index opened higher at 25,115.83 points on Tuesday and Nifty too surged by 35.05 points at 7528.40 points.

On Monday, the BSE Sensex and Nifty fell for a fourth straight session, as they suffered their lowest close in two and a half weeks. The Sensex lost 0.3 percent to settle at 25,031 points, while the Nifty fell 0.24 percent to end at 7493.85 points.

"There is an uncertainty and people are waiting for budget for clarity on major policy issues. However, market is optimistic and is expecting some real good measures. That is why we are not seeing any heavy selling," Reuters quoted Suresh Parmar from KJMC Financial Services Ltd.

Top gainers from BSE on Tuesday (10:15 am)

Name Last traded price (INR) Change % change
Gujarat State Pet 81.10 +4.60 +6.01
Bharti Infratel 246 +10.65 +4.53
Gail India 456.70 +17.10 +3.89
IRB Infra 214.10 +7.75 +3.76
Jubl Food 1263 +4.05 +3.61

Top losers from BSE

Name Last traded price (INR) Change % change
Zee Entert 284.70 -4.80 -1.66
India Bank 178.55 -2.60 -1.44
Marico 238.40 -2.55 -1.06
Bata India 1201 -10.45 -0.86
Cadila Health 995.05 -12.90 -1.28

But, top five gainers and losers shifted their ranks during the trading session.

Foreign investors who supported a 21 percent rally in the NSE index so far this year, sold shares worth ₹2.15 billion rupees on Monday.

Among top companies, Reliance Industries Ltd rose by 1.2 percent while SBI gained 1.3 percent on Tuesday. In the meantime, shares of Bajaj Hindustan gained 10 percent after the company said on Monday that it paid foreign currency convertible bonds worth $17.7 million.

Moreover, Power Grid Corp. of India on Monday said that its board approved investments of ₹55.52 billion. Its stock is likely to attract investors on Tuesday, according to the experts. Its stock recorded an increase of ₹1.55 at ₹133.20.

ITC Ltd. gained 1.7 percent after falling 6.2 percent in the previous session on Monday.

However at 9:30 am, Sensex recorded 25,219.32 points with a surge of 30 points while NSE index recorded 7542.25 points with a surge of 27 points. Moreover, NSE index futures traded on Singapore Exchanges rose to 0.36 percent, while the MSCI-Asia Pacific along the Japan index rose 0.28 percent.

At 10:43 am, the BSE Sensex was up 312 points while the Nifty rose 79 points.

Nikkei and Hang Seng gained at 15,388.68 and 22,921.85 points respectively on Tuesday. The index of Nikkei and Hang Seng rose by 19.40 points and 117.04 points.

Traders told Reuters that the market would trade range bound ahead of the monthly derivatives contract expiry on Thursday and general budget on 10 July.