Business: Equity indices gain 1 pc, Kotak Mahindra Bank up 7 pc

Mumbai: Equity benchmark indices gained nearly one per cent during early hours on Tuesday while tracking gains in Asian markets.At 10 am, the BSE S&P Sensex was up by 319 points or 0.96 per cent at 33,618 while the Nifty 50 edged higher by 95 points or 0.96 per cent at 9,921.

All sectoral indices at the National Stock Exchange were in the green with Nifty realty up by 2.7 per cent, pharma by 1.8 per cent and auto by 1.2 per cent.

Among stocks, Kotak Mahindra Bank was the top gainers after adding 6.9 per cent to Rs 1,335.20 per share. Auto majors Tata Motors and Mahindra & Mahindra were up by 2.5 per cent and 1.6 per cent respectively.

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The other prominent gainers were Bajaj Finance, Sun Pharma, Cipla, Adani Ports and Hindalco. But those which lost were Coal India, Bharat Petroleum Corporation, L&T and ICICI Bank.

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Meanwhile, Asian stocks gained marginally as investors hoped-for economic recovery amid the coronavirus pandemic. MSCI's broadest index of Asia Pacific shares outside Japan extended its rally and rose by 0.3 per cent.

Japan's Nikkei rose by 1 per cent to its highest since late February and markets in Seoul, Taipei and Hong Kong also gained. (ANI)

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