Sensex Opens Higher, Nifty 25 Points Up

Indian markets opened on a positive note on Tuesday, a day after taking a beating from IT Stocks, especially heavy sell of from Infosys. Sensex was up by 115 points above 60,000 and Nifty too opened 20 points higher at 9:15am.

In the early morning trade, on Tuesday, the Asian markets were cautious in a mode as global investors waited to see whether China recorded a first quarter bounceback from its punishing pandemic lockdowns that led to a major economic slowdown. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%, after U.S. stocks ended the previous session with mild gains. The index is up 1.1% so far this month.

Bank Nifty is also trading up by 0.33%, along with midcap index movement of 0.21% and small cap index is marginally up by 0.06%.

The rupee weakened by 16 paise to close at 82.01 against the US currency on Monday as a strong American currency overseas and a negative trend in domestic equities weighed on investor sentiments. In early moring trade on Tuesday it opened 3 paise weaker against dollar.

ICICI Lombard, Crisil, Tata Coffee and a slew of other companies will announce their quarterly results today.