Markets trade higher led by PSU Bank stocks

Bombay Stock Exchange
Indian benches made a firm start on Tuesday, after plunging ~2% on Monday, as concerns around a "hot" conflict in the Middle East calmed. The Sensex was trading up by 480 points at 41,157, while the Nifty was trading above 12,100. (9.25AM)

Sectorally, all indices traded higher except Nifty IT. Nifty PSU Bank was trading higher by 2.2% led by Canara Bank and Punjab National Bank.

ZEEL, Vedanta, SBI were the top gainers on the Nifty, while Infosys, Wipro, and HCL were the top underperformers.

The Indian rupee opened higher by 17 paise at 71.76/$.

Asian stocks opened higher on Tuesday, with Japan’s Nikkei 225 jumping 1.5%, after falling 1.91% on Monday’s close amid geopolitical concerns in the Middle East.

Gold prices edged lower on Tuesday after hitting their highest in nearly seven years on Monday, on the back of ebbing tensions between the US and Iran. Oil also retreated after surpassing the $70/bbl mark.

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