India VIX, which measures the market’s expectation of volatility over the near term, dropped ~4%.

Equity benchmark indices started Tuesday on a positive note tracking SGX Nifty. The Sensex was trading 300 points up at 36,167 levels, while the Nifty gained 85 points to reclaim its 10,800-mark.

The gain could be attributed to heavy buying in Yes Bank, Reliance Industries, Wipro, Zee Entertainment Enterprises, and Tech Mahindra, which rose 2% each on the NSE. Incidentally, Bharti Airtel was the only loser on the NSE, declining 0.09%.

All the sectoral indices on the NSE were trading in the green. Nifty IT and Media indices, which gained 1% each, were top gainers. Nifty Realty, Banks, FMCG, and Auto also gained ~1%.

India VIX, which measures the market’s expectation of volatility over the near term, dropped ~4%.

On the currency front, the Indian rupee reclaimed the 71-mark. Notably, the currency opened 16 paise higher at 70.77 against the dollar compared to its previous close of 70.93/$. The depreciation could be attributed to increasing crude oil prices in global markets.

The Sensex is up 98.98 points or 0.28% at 35952.54, and the Nifty down 53.80 points or 0.50% at 10683.80.

The Indian rupee opened higher by 16 paise at 70.77 per dollar on Tuesday versus previous close 70.93.

source: .indiainfoline.com