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Opening bell: Sensex breaches 36,000 levels, Nifty above 10,750 mark
The BSE Senxex gained around 160 points to 36,015 while Nifty gained near 45 points and touched 10,780 — above the psychological 10,750 levels. Stocks from power, energy, oil and gas, tech sectors were the major gainers. Among top gaining shares, Jet Airways gained around 4.5 per cent while Chambal Fertilisers and Jammu and Kashmir Bank were the close followers.
Anindya Banerjee, Analyst at Kotak Securities told Zee Business online, "Market's are under stress due to sudden fall in Chinese exports numbers and rising Indinan fiscal deficit." However, he said that the markets would trade in the range of 10,700 to 10,850. He said that anything happening to the markets would be mainly due to the global indicators. So, we investors need to keep an eye on the Chinese export numbers and euro zone over Brexit.
Asian shares were on back foot on Tuesday as an unexpected drop in China's exports heightened worries about the global economy while the British pound braced for a showdown in parliament over the government's Brexit plan. MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat in early trade while Japan's Nikkei fell 0.7 percent after a market holiday on Monday.
In Monday's session on Wall Street, the S&P 500 lost 0.53 percent, with the biggest drag coming from a 0.9 per cent fall in technology sector.
Chipmakers, which get a sizable portion of their revenue from China, took a hit, with the Philadelphia SE Semiconductor Index falling 1.6 per cent. Data on Monday showed China's exports unexpectedly fell the most in two years in December, while imports also contracted sharply, pointing to further weakness in the world`s second-largest economy in 2019 and deteriorating global demand.
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