Markets open higher mirroring global stocks

Indian Benchmark indices opened higher on Tuesday after an extended weekend on account of Diwali.

US markets scaled all-time highs, while Asian markets climbed to a 3-month peak following news that the US and China were close to signing Phase 1 of the trade deal.

The Sensex rose above 39,300, while the Nifty was just below 11,650 levels.

Sectorally, most indices traded in the green with Nifty Auto leading the gainers. Nifty FMCG and Media lost the most, down 0.5% each.

Nifty Auto gained 2% driven by Tata Motors and Motherson Sumi (+6%).

Shares of Tata Motors rose by over 15% in early trade as its consolidated net loss narrowed to Rs216.6cr vs. loss of Rs1,048.8cr qoq.

ICICI Bank was up 2% after the bank reported Q2 profit down 27.9% at Rs655cr vs. Rs908.9cr yoy.

Bharti Airtel fell over 3% after its board of Directors, in its meeting held on October 29, accepted the management's recommendation and deferred the agenda item relating to the approval of the said financial results till Thursday, November 14, 2019.

The Indian rupee opened higher by 14p at 70.74/$ vs. Friday's close of 70.88/$.

NIFTY TRADING TIPS