Stock Market Today: Sensex, Nifty Ends Higher After Two-Day Fall; FPIs Stay Net Sellers

Overseas investors stay net sellers for three consecutive sessions on Tuesday.

Foreign portfolio investors sold stocks worth Rs 455.59 crore, according to provisional data from the National Stock Exchange.

Domestic institutional investors continues as buyers and purchased stocks worth Rs 721.52 crore, the NSE data showed.

Foreign institutions have been net buyers of Rs 96,433 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.

The yield on the 10-year bond closed flat at 7.27% on Tuesday.

Source: Bloomberg

• The local currency ended flat at around 83.354, which was the lowest-ever close against the U.S. dollar on Tuesday.

• It had closed at all time weakest level of 83.346 against the U.S. dollar on Monday.

Source: Bloomberg

India's benchmark stock indices advanced on Tuesday, after snapping two days of decline as heavyweights Reliance Industries Ltd., and HDFC Bank Ltd. led.

Intraday, the Nifty Midcap 150 and Smallcap 250 hit lifetime highs. Among sectoral indices, realty, metal and consumer durables advanced the most, while fast-moving consumer goods and public-sector banks faced pressure.

The S&P BSE Sensex Index closed up 276 points, or 0.42, at 65,930.77 while the NSE Nifty 50 was 89 points or 0.45% higher at 19,783.40.

The index is moving sideways as of now and would need a decisive breach on either side of 19,800 or 19,650 level for the confirmation of further directional move, said Vaishali Parekh, vice president - technical research at Prabhudas Lilladher Pvt. "The support for the day is seen at 19,600 while the resistance is seen at 19,850," she added.

Asian stocks were steady on Tuesday, buoyed by extended gains in Wall Street and a $16 billion sale of 20-year Treasury notes that lured bond buyers.

Hong Kong's Hang Seng and Japan's Nikkei 225 indices ended lower after a volatile day of trade, whereas South Korea's Kospi, mainland and Australian shares closed higher.

On Monday, the S&P 500 had its strongest close since August, and the Nasdaq 100 hit a 22-month high. Both Nvidia Corp., which will report quarterly results Tuesday, and Microsoft Corp. climbed to fresh peaks amid a revival of the artificial-intelligence bid.

Reliance Industries Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., and Titan Co. were positively adding to the change in the Nifty 50 Index.

Whereas, Coal India Ltd., ONGC Ltd., Larsen & Toubro Ltd., State Bank of India, and Tata Consultancy Services Ltd. were negatively contributing to the change.

We remain cautiously optimistic on the market from a medium-term perspective, said Vinay Paharia, CIO, PGIM India Mutual Fund. "Our caution is because markets are trading at a premium to its current fair value. However, this fair value is likely to grow at a strong pace in the medium-term, hence we remain optimistic from a medium to long-term perspective."

The broader markets ended higher; the S&P BSE MidCap Index was up 0.14%, whereas S&P BSE SmallCap Index was 0.20% higher.

Twelve out of 20 sectors compiled by BSE advanced, while eight sectors declined. S&P BSE Consumer Durables anf S&P BSE Realty rose the most.

The market breadth was skewed in the favour of the buyers. About 2,029 stocks rose, 1,688 declined, while 137 remained unchanged on the BSE.

As the market remains rangbound, it is likely to wait till the State elections outcome is known, saysD r. V K Vijayakumar, chief investment strategist at Geojit Financial Services.

"If the state election outcome indicates political stability after the general elections of 2024, that will act as the trigger for the rally. And, if such a rally happens, it is likely to be led by large-caps across the board in sectors like banking, I.T., automobiles, capital goods, telecom, real estate and construction-related segments," said he added.

• 10 lakh shares changed hands in a large trade

• 0.13% equity changed hands at Rs 369.30 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

Top Gainers

• Rattanindia Enterprises up 13.56% at Rs 73.70 apiece

• DCX Systems up 9.68% at Rs 352.35 apiece

• Titagarh Rail Systems up 8.36% at Rs 1,015 apiece

• Technocraft Industries up 7.81% at Rs 2,079.85 apiece

• BEML up 7.60% at Rs 2,445.5 apiece

Top Losers

• KPIT Technologies down 6.17% at Rs 1524 apiece

• Rattanindia Power down 4.93% at Rs 9.65 apiece

• Suzlon Energy down 4.96% at 39.30 apiece

• Tata Investment Corporation down 3.57% at Rs 4,346 apiece

• Coal India down 3.90% at Rs 334.20 apiece

Shares fell 6.52% to Rs 1,518.10 apiece, the lowest level since Nov. 20.

• Rattanindia Enterprises up 10.79%, hits life high at 72.7 apiece

• PCBL up 5.23%, hits life high at 248.6 apiece

• KEI Industries at 5.88%, hits life high at 2,945.45 apiece

• Latent View Analytics up 4.65%, hits life high at 487.8 apiece

• Varroc Engineering up 3.09%, hits 52 week high at 583.5 apiece

• BASF India up 4.57%, hits 52 week high at 3,178 apiece

• KNR Constructions up 6.18%, hits 52 week high at 299.45 apiece

India's benchmark stock indices rose through midday on Tuesday led by heavyweights HDFC Bank Ltd and Reliance Industries Ltd.

Among sectoral indices, realty, metal, and consumer durables advanced the most while FMCG and PSU Banks faced pressure.

Intraday, Nifty Midcap 150 and Smallcap 250 hit lifetime highs. Sensex traded above 66,000-level and Nifty crossed 19,800-level.

The index is moving sideways as of now and would need a decisive breach on either side of 19,800 or 19,650 level for the confirmation of further directional move, said Vaishali Parekh, vice president - technical research at Prabhudas Lilladher Pvt. "The support for the day is seen at 19,600 while the resistance is seen at 19,850," she added.

As of 12:29 p.m., the S&P BSE Sensex Index was up 399 points, or 0.61%, at 66,054.17 while the NSE Nifty 50 was 122 points or 0.62% higher at 19,815.60.

"Upside may remain limited as investors await the minutes of the Federal Reserve's latest monetary policy meeting for additional clues on the outlook for rates," said Avdhut Bagkar, technical and derivatives analyst at StoxBox.

Buying on intraday corrections and selling on rallies would be the ideal strategy for day traders, said Shrikant Chouhan – head equity research at Kotak Securities Ltd. "For bulls, the uptrend below 19,575 and 65,250 will be weak," he added.

Asian stocks were steady on Tuesday, buoyed by extended gains in Wall Street and a $16 billion sale of 20-year Treasury notes that lured bond buyers.

Hong Kong's Hang Seng and South Korea's Kospi rose the most by 0.8% each. Indices in Japan also recovered after falling in early trade.

On Monday, the S&P 500 had its strongest close since August, and the Nasdaq 100 hit a 22-month high. Both Nvidia Corp., which will report quarterly results Tuesday, and Microsoft Corp. climbed to fresh peaks amid a revival of the artificial-intelligence bid. Shortly after the U.S. bond auction results on Monday, U.S. 10-year yields reversed course and fell to around 4.4%.

HDFC Bank Ltd., Reliance Industries Ltd., ICICI Bank Ltd., Adani Enterprises Ltd., and Titan Company Ltd. were positively adding to the change in the Nifty 50 Index.

Whereas, Tech Mahindra Ltd., NTPC Ltd., Larsen & Toubro Ltd., Oil and Natural Gas Corporation Ltd., and Coal India Ltd. were negatively contributing to the change.

The broader markets outperformed; the S&P BSE MidCap Index was up 0.25%, whereas S&P BSE SmallCap Index was 0.42% higher.

Fourteen out of 20 sectors compiled by BSE advanced, while six sectors declined S&P BSE Realty rose the most.

The market breadth was skewed in the favour of the buyers. About 2,103 stocks rose, 1,460 declined, while 152 remained unchanged on the BSE.

Gujarat Pipavav Ports rose to over a 5-year high as it went ex-dividend for the upcoming dividend. The interim dividend price was set up at Rs. 3.60 per share for this financial year. The dividend payment is likely to be on Dec 5, according exchange filing.

Meanwhile, out of other companies which are going ex-dividend today, Gillette India's shares reversed losses. Shares of Oil India Ltd, Coal India Ltd, Oil and Oil and Natural Gas Corporation and Sun TV declined Tuesday as the companies went ex-dividend for the upcoming dividend.

The scrip rose to a over 5-year high 4.13% to 143.55 apiece, the highest level since Jun 6, 2018. It pared gains to trade 1.52% higher at Rs 139.95 apiece, as of 11:07 a.m. This compares to a XX advance/decline in the NSE Nifty 50 Index.

It has risen 38.85% on a year-to-date basis. Total traded volume so far in the day stood at 3.1 times its 30-day average. The relative strength index was at 63.89.

Out of 13 analysts tracking the company, 9 maintain a 'buy' rating, 3 recommend a 'hold,' and 1 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 61.8%.

The scrip fell as much as 0.67% to Rs. 6,350.15 apiece. It reversed losses to trade 0.48% higher at Rs 6,420.00 apiece, as of 11:01 a.m. This compares to a 0.4% advance in the NSE Nifty 50 Index.

It has risen 27.57% on a year-to-date basis. The relative strength index was at 59.83.

Out of 2 analysts tracking the company, all maintains a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 27.5%.

Coal India's shares fell over 4% as the company went ex-dividend on Tuesday. The dividend price was set at Rs. 15.25 per share.

The scrip fell as much as 4.27% to Rs. 333.00 apiece. It pared losses to trade 3.15% lower at Rs 336.90 apiece, as of 10:09 a.m. This compares to a 0.37% advance in the NSE Nifty 50 Index.

It has risen 49.19% on a year-to-date basis. Total traded volume so far in the day stood at 1.5 times its 30-day average. The relative strength index was at 61.08.

Out of 23 analysts tracking the company, 18 maintain a 'buy' rating, 1 recommend a 'hold,' and 4 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 59.9%.

Oil and Natural Gas Corporation Ltd's board of director set the interim dividend price at Rs. 5.75 per share with face value of Rs. 5 each. for the current financial year.

Shares of Oil India Ltd fell as much as 1.26% to Rs. 310.05 apiece. It pared losses to trade 0.83% lower at Rs. 311.40 apiece, as of 10:39 a.m. This compares to a 0.4% advance in the NSE Nifty 50 Index.

It has risen 49.9% on a year-to-date basis.The relative strength index was at 49.63.

Out of 27 analysts tracking the company, 20 maintain a 'buy' rating, 4 recommend a 'hold,' and 3 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 50.3%.

Sun TV Network Ltd has set the interim dividend price at Rs. 5 per share with the face value of Rs.5.

The scrip fell as much as 1.35% to Rs. 671.0 apiece. It pared losses to trade 1.15% lower at Rs. 672.35 apiece, as of 10:32 a.m. This compares to a 0.43% advance in the NSE Nifty 50 Index.

It has risen 38.03% on a year-to-date basis. The relative strength index was at 61.22.

Out of 19 analysts tracking the company, 12 maintain a 'buy' rating, 4 recommend a 'hold,' and 1 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 44.1%.

Oil India Ltd's board of directors set the interim dividend price at Rs. 3.50 per share of the 30% paid up equity capital.

Shares of Oil India Ltd fell as much as 1.26% to Rs. 310.05 apiece. It pared losses to trade 0.83% lower at Rs. 311.40 apiece, as of 10:39 a.m. This compares to a 0.4% advance in the NSE Nifty 50 Index.

It has risen 49.9% on a year-to-date basis.The relative strength index was at 49.63.

Out of 27 analysts tracking the company, 20 maintain a 'buy' rating, 4 recommend a 'hold,' and 3 suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 50.3%.

• Latent View Analytics at 10.71x of its 30 day average

• Rallis India at 8.67x of its 30 day average

• Johnson Control 5.79x of its 30 day average

• Maithan Alloys at 5.59x of its 30 day average

• Unit Strides Pharma Global gets U.S. FDA approval for Levetiracetam Oral solution.

• Alert: Levetiracetam is a bioequivalent of Keppra Oral solution used to treat seizures

Source: Exchange filing

Shares of Adani Group companies advanced on Tuesday, as Adani Enterprises Ltd. rose over 3% and Adani Wilmar Ltd. led as it was trading over 4% in trade.

Shares rose as Mumbai Travel Retail Pvt., a subsidiary of Adani Enterprises Ltd., has incorporated its wholly-owned subsidiary, MTRPL Macau Ltd., to set up tobacco shops at Macau International Airport.

Adani Total Gas Ltd., New Delhi Television Ltd., and Adani Energy Solutions Ltd. were trading above 1%, whereas Ambuja Cements Ltd. fluctuated.

Adani Group stocks added Rs 20,960.24 crore in investor wealth, taking their total market capitalisation to Rs 10.36 lakh crore, intraday.

As of 10:59 a.m., the shares added Rs 13,958 crore in market value taking the capitalisation to Rs 10.27 lakh crore.

• Nifty Metal up 1.65% led by Welspun Corp, Adani Enterprises, Hindalco Industries

• Nifty Realty up 0.9% led by Oberoi Realty, Mahindra Lifespace developers, Godrej Properties

• Nifty Realty continues its gaining streak for four out of five sessions

• Nifty Pharma up 0.73% led by Lauras labs, Gland Pharma, GlaxoSmithKline Pharmaceuticals

• Nifty PSE down 0.25% led by Coal India, ONGC, BHEL

• Nifty FMCG down 0.14% dragged by Varun Beverages, Britannia Industries, Radico Khaitan

• 10.6 lakh shares changed hands in a large trade

• 0.02% equity changed hands at Rs 220.70 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

Shares of Vascon Engineers Ltd. surged nearly 8% on Tuesday after it bagged Rs 356.78 crore order to construct a general hospital building in Pune.

The company won the contract from the Pune's municipal secretary's department to build the building for PCMC Hospital in Moshi, PimpriChinchwad, Pune, according to the exchange filing. The work has to be completed within 36 months from the date of acceptance.

Shares of the company rose as much as 7.8% to Rs 80.50 apiece. It pared gains to trade 4.4% higher at Rs 77.95 apiece as of 09:55 a.m. This compares to a 0.4% advance in the NSE Nifty 50 Index.

It has risen 131.68% on a year-to-date basis. Total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 55.90.

Shares of Titagarh Rail Systems Ltd. hit an all-time high on Tuesday after it formed a strategic partnership with ABB India Ltd. for the supply of propulsion systems for metro rolling stock projects in India, as per its exchange filing.

The agreement includes technology transfer and licensing as part of the government’s 'Make in India' initiative, said the filing.

Titagarh specializes in the design, manufacture, supply, commissioning and servicing of various passenger rolling stock and metro coaches for Indian and international markets. On the other hand, ABB is involved in the design, manufacture and servicing of propulsion systems and electrical equipment relating to rolling stock used for railways and metro systems.

Shares of Titagarh Rail Systems Ltd. rose as much as 11.81% to an all-time high of Rs 1,046.50 apiece. It was trading 7.62% higher at Rs 1,007.30 apiece, as of 10:05 a.m. which compares to a 0.37% advance in the NSE Nifty 50 Index.

It has risen 349% on a year-to-date basis. The total traded volume so far in the day stood at 7.8 times its 30-day average. The relative strength index was at 77, implying that the stock maybe overbought.

Eight analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 3.9%.

Shares of ABB India Ltd. rose as much as 1.91% to Rs 44,29.90 apiece, the higher level since Sept. 12. It was trading 0.24% higher at Rs 4,357.45 apiece, as of 10:05 a.m. which compares to a 0.37% advance in the NSE Nifty 50 Index.

It has risen 62.2% on a year-to-date basis. The total traded volume so far in the day stood at 4.1 times its 30-day average. The relative strength index was at 62.

14 out of the 30 analysts tracking the company maintain a 'buy' rating, 10 recommend a 'hold' and six suggest to 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 6.4%.

Shares of KPIT Technologies Ltd. fell as much as 5.08% to Rs 1,541.50 apiece, the lowest level since Nov. 20. This compares to a 0.42% advance in the NSE Nifty 50, as of 9:56 a.m.

It has risen 119% on a year-to-date basis. The total traded volume so far in the day stood at 2.7 times its 30-day average. The relative strength index was at 75, implying that the stock maybe overbought. Bloomberg covers no analyst tracking the company.

Nine out of the 14 analysts tracking the company maintain a 'buy' rating, one recommends a 'hold' and four suggest to 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 17.3%.

• 11.3 lakh shares changed hands in a large trade

• 0.8% equity changed hands at Rs 725 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• 10.1 lakh shares changed hands in a large trade

• 0.2% equity changed hands at Rs 552.05 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

The broader markets outperformed; the S&P BSE MidCap Index was up 0.46%, whereas S&P BSE SmallCap Index was 0.55% higher.

Seventeen out of 20 sectors compiled by BSE advanced, while three sectors declined S&P BSE Realty rose the most.

The market breadth was skewed in the favour of the buyers. About 1,991 stocks rose, 491 declined, while 113 remained unchanged on the BSE.

India's benchmark stock indices opened higher on Tuesday, after falling for the second day on Monday.

At pre-open, the S&P BSE Sensex Index was up 205 points, or 0.31%, at 65,860.46 while the NSE Nifty 50 was 77 points or 0.39% higher at 19,770.90.

Buying on intraday corrections and selling on rallies would be the ideal strategy for day traders, said Shrikant Chouhan – head equity research at Kotak Securities Ltd. "For bulls, the uptrend below 19,575 and 65,250 will be weak," he added.

"Upside may remain limited as investors await the minutes of the Federal Reserve's latest monetary policy meeting for additional clues on the outlook for rates," said Avdhut Bagkar, technical and derivatives analyst at StoxBox.

Asian stocks opened higher on Tuesday, buoyed by extended gains in Wall Street and a $16 billion sale of 20-year Treasury notes that lured bond buyers.

Australian and South Korean shares advanced while the Japanese market fluctuated.

Indices in Japan fell as the Japanese yen strengthened, which hurt the overseas earnings of Japanese exporters. However, losses were limited as semiconductor companies gained after Microsoft said it was hiring ousted OpenAI CEO Altman.

On Monday, the S&P 500 had its strongest close since August, and the Nasdaq 100 hit a 22-month high. Both Nvidia Corp., which will report quarterly results Tuesday, and Microsoft Corp. climbed to fresh peaks amid a revival of the artificial-intelligence bid. Shortly after the U.S. bond auction results on Monday, U.S. 10-year yields reversed course and fell to around 4.4%.

• At pre-open, the S&P BSE Sensex Index was up 205 points, or 0.31%, at 65,860.46 while the NSE Nifty 50 was 77 points or 0.39% higher at 19,770.90.

Source: Bloomberg

• The yield on the 10-year bond opened flat at 7.25% on Tuesday.

• 10-year bond yield closed at 7.26% on Monday

Source: Bloomberg

• The local currency strengthened by 2 paise to open at 83.33 against the U.S dollar on Tuesday.

• Rupee settled at the record closing low level of 83.35 against the U.S. dollar on Monday.

Source: Bloomberg

• U.S. Dollar Index at 103.4

• U.S. 10-year bond yield at 4.41% on Tuesday

• Brent crude up 0.23% to $93.47 per barrel

• Nymex crude at $77 per barrel

• Gift Nifty down 0.04% to 19,800 as of 8:10 a.m.

• Bitcoin was up 0.48% to $37,604.33

• Price band revised from 10% to 5%: KPI Green.

• Ex/record date Interim dividend: E.I.D. Parry (India), EPL, Gujarat Pipavav Port, Oil And Natural Gas Corp., Rmc Switchgears, Senco Gold, Sun TV Network, Talbros Engineering, Tide Water Oil (India).

• Ex/record date Final dividend: Gillette India, National Peroxide.

• Move into a short-term ASM framework: All Cargo Terminals, Naga Dhunseri Group, Sumit Woods, GE Power, Hisar Metal, Solar Industries.

• Move Out of short-term ASM framework: Sata Sundar, Intense Technology, Atlanta.

• NRB Bearings: Promoter Harshbeena Zaveri bought 12,814 shares between Nov. 16 and 17.

• Deccan Gold Mines: Promoter group Rama Mines Mauritius sold 54,453 shares between Nov. 15 and 17.

• DB Realty: Promoter group Neelkamal Tower Construction sold 73 lakh shares on Nov. 16.

• Mishtan Foods: Aruna R Jain sold 60 lakh shares (0.6%) at Rs 16.16 apiece.

• IREDA: The IPO will open for bids on Tuesday. The company plans to raise Rs 2,150 crore with a combination of fresh and offer-for-sale issue. The price band is fixed at Rs 30 to 32 apiece. The company has mopped up Rs 643.26 crore from anchor investors.

• Tata Power: Tata Power Renewable Energy crossed the 1.4-gigawatt capacity of group captive projects in the last seven months, aided by the signing of power delivery agreements with various industries across segments.

• Adani Enterprises: Mumbai Travel Retail Pvt., a subsidiary of Adani Enterprises Ltd., has incorporated its wholly-owned subsidiary, MTRPL Macau Ltd., to set up tobacco shops at Macau International Airport.

• State Bank of India: The government appointed Vinay Tonse as MD of the bank till Nov. 30, 2025.

• Tech Mahindra: Tech Mahindra Americas signed a collaboration deed with Neom Tech for providing digital services. It will incorporate a new subsidiary to provide product and platform development services to Neom Group companies.

• ABB India, Titagarh Rail Systems: ABB India has formed a strategic partnership with Titagarh Rail Systems for the supply of propulsion systems for metro rolling stock projects in India.

• IRCTC: The company received Railway Ministry permission for long-term tenders for a period of seven years through clustering of trains. The Rail Neer plant has commenced commercial production, and the production capacity of the plant is 72,000 litres per day.

• Oberoi Realty: The company announced the launch of ‘Forestville by Oberoi Realty’, the first luxury residential project in Kolshet, Thane. The company launched the first phase of this development, consisting of three towers.

• Concor: Container Corp. signed a MoU with Indraprastha Gas for setting up LNG and LCNG infrastructure at the company's terminals to explore the possibility of transporting LNG through railway rakes from LNG terminals near sea ports like Dahej.

• ICICI Lombard General Insurance: The company appointed Sanjeev Mantri as the MD and CEO for a period of five years, effective Dec. 1, 2023 to Nov. 30, 2028.

• Manappuram Finance: The Reserve Bank of India imposed a monetary penalty on Manappuram Finance of Rs 42.78 lakh for non-compliance with certain provisions of the 'NBFCs: Systemically Important Non-Deposit-Taking Company and Deposit-Taking Company (Reserve Bank) Directions, 2016'.

• Satin Creditcare Network: The company's board of directors considered and approved the issuance of 5,000 non-convertible debentures with a face value of Rs 1 lakh each and an aggregate face value of Rs 50 crore only, including a green shoe option of 2,500 non-convertible debentures.

• Mishra Dhatu Nigam: Saket Chaturvedi, CEO of MiG Complex at HAL, committed during a meeting with Mishra Dhatu Nigam to collaborate with MIDHANI in the indigenous development of strategic materials that find application in the production and maintenance of aeroengines.

• Bayer CropScience: The company received a GST demand and a penalty of Rs 85.5 lakh each from the Rajasthan GST authority.

• Vascon Engineering: The company received a letter of intent from Pimpri Chinchwad Municipal Corporation, Pune, to construct a general hospital building for PCMC Hospital in Moshi, Pimpri-Chinchwad, Pune, for Rs 356.78 crore.

• RateGain Travel Technologies: The company raised Rs 600 crore from qualified institutional buyers through the issue of 93.3 lakh shares at a face value of Re 1 each.

• Karnataka Bank: The bank has entered into a strategic corporate tie-up with HDFC Life Insurance Co. to provide products to its customers. Through the partnership, it plans to provide innovative and customer-friendly solutions to those who are in search of financial security and life protection.

Asian stocks opened higher on Tuesday, buoyed by extended gains in Wall Street and a $16 billion sale of 20-year Treasury notes that lured bond buyers.

Australian and South Korean shares advanced while the Japanese market fluctuated.

Indices in Japan fell as the Japanese yen strengthened, which hurt the overseas earnings of Japanese exporters. However, losses were limited as semiconductor companies gained after Microsoft said it was hiring ousted OpenAI CEO Altman.

On Monday, the S&P 500 had its strongest close since August, and the Nasdaq 100 hit a 22-month high. Both Nvidia Corp., which will report quarterly results Tuesday, and Microsoft Corp. climbed to fresh peaks amid a revival of the artificial-intelligence bid. Shortly after the U.S. bond auction results on Monday, U.S. 10-year yields reversed course and fell to around 4.4%.

The yield on the 10-year U.S. bond was trading at 4.41%, and Bitcoin was above $37,600. Brent crude was above $77 a barrel, whereas WTI crude was above $82 a barrel.

The GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India opened lower Tuesday by 7 points or 0.04% at 19,800 as of 8:10 a.m.

India's benchmark stock indices closed lower for the second day in a row on Monday after swinging between gains and losses, led by declines in Bajaj Finance Ltd., Mahindra & Mahindra Ltd., and Larsen & Toubro Ltd. The S&P BSE Sensex closed down 140 points, or 0.21%, at 65,655.15, while the NSE Nifty 50 fell 38 points, or 0.19%, to end at 19,694.00.

Overseas investors remained net sellers of Indian equities for two days in a row on Monday. Foreign portfolio investors offloaded stocks worth Rs 645.7 crore, while domestic institutional investors turned buyers and mopped up stocks worth Rs 77.8 crore, the NSE data showed.

The Indian rupee depreciated 8 paise to close at its all-time weakest level of 83.35 against the U.S. dollar on Monday.