Markets open firm, Bharti Airtel up over 2%

The benchmark indices have opened on a firm note tracking positive trend in Asian markets. Moreover, worry over continuing tension in Ukraine and the Middle East has barely affected the investor sentiments.

 

At 9.15 AM, the barometer index Sensex is up 105 points at 25,820 and Nifty is up 25 points at 7,709 levels.

 

Following the momentum, the Midcap and Smallcap indices are up 0.3% and 0.4% each.

 

Asian stocks edged up in early trading on Tuesday, though the upside was capped by lingering concerns about the Ukraine crisis and violence in Gaza which pressured U.S. yields and the dollar.

 

Malaysia has reached an agreement with the leader of the separatist group to retrieve the bodies of the victims from last week's downing of a Malaysia Airlines passenger jet as well as the plane's two black boxes, Malaysian Prime Minister Najib Razak said on Tuesday.

 

Meanwhile, in the Gaza Strip, the Palestinian death toll jumped to more than 500 and Israeli losses mounted as well, as the United States stepped up efforts to secure a ceasefire.

 

U.S. shares slumped overnight, as the rising global tensions offset some upbeat U.S. earnings. So far this reporting period, 66 percent of S&P 500 companies have topped Wall Street's profit expectations, according to Thomson Reuters data, above the 63 percent average since 1994.

 

The market breadth is positive on the BSE with 748 shares advancing and 195 shares declining.