INSUBCONTINENT EXCLUSIVE:
HDFC, HDFC Bank and Reliance Industries were the top drags on the SensexDomestic stock markets gave up early gains in mid-morning deals on
Tuesday amid choppy trade in Asian equities, a day after benchmark index Nifty 50 settled at a three-month peak
The S-P BSE Sensex index rose as much as 0.50 per cent - or 173.99 points - to touch 35,085.31 on the upside in early trade, having started
the day up 104.41 points at 35,015.73
The broader Nifty benchmark moved to as high as 10,377.55, after opening stronger at 10,347.95 compared to its previous close of 10,311.20
Losses in select financial stocks offset gains in consumer goods, metal and pharmaceutical shares.However, the markets could not sustain
At 9:52 am, the Sensex traded 17.47 points - or 0.05 per cent - lower at 34,893.85, while the Nifty was up 8.20 points - or 0.08 per cent
- at 10,319.40.HDFC, HDFC Bank and Reliance Industries were the top drags on the Sensex at the time.Equities in other Asian
markets see-sawed in a wild ride on Tuesday following confusing statements from the White House over the US-China trade deal, with
President Donald Trump later clarifying the pact was "fully intact".Mr Trump's tweet bolstered market sentiment, with Asian shares quickly
turning around to the positive territory.MSCI's broadest index of Asia Pacific shares outside of Japan was last seen trading 0.70 per cent
higher, while Japan's Nikkei 225 benchmark was up 0.82 per cent.While China's Shanghai Composite index was up 0.17 per cent at the time,
Hong Kong's Hang Seng and South Korea's KOSPI barometers were up 0.87 per cent and 0.51 per cent respectively. Risk sentiment had taken a
knock early in the Asian day after White House trade adviser Peter Navarro said the trade deal with China was "over", linking the breakdown
in part to Washington's anger over Beijing not sounding the alarm earlier about the coronavirus outbreak.Asian stocks have rallied hard
since hitting a low in March amid worries about the jolt to the global economy from the coronavirus-driven shutdowns
The gains have been driven by hefty central bank stimulus around the globe and gradual easing of restrictions, although worries about a
second wave kept investors jittery.The E-Mini S-P 500 futures were down 0.05 per cent in Asian trade, indicating a flat to negative start
for US markets on Tuesday.Overnight in the US, the Dow Jones Industrial Average index rose 0.59 per cent, the S-P 500 gained 0.65 per cent
and the tech-heavy Nasdaq Composite added 1.11 per cent to set a record closing high.
