Sensex up 350 points; finance, auto stocks rise

Mumbai: The key Indian equity indices opened on a positive note Tuesday, with the BSE Sensex gaining over 350 points.

Healthy buying was witnessed in finance and auto stocks. A largely positive trend in the Asian markets also supported the Indian indices.

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Afghan and Pakistani transporters stranded on the road leading to Torkham border, which has remained closed since October 13, have urged authorities to exclude bilateral trade from political and security issues between the two nations. The transporters told local media that they have been suffering a lot, running short of money and also facing physical and psychological issues. Quoting the stranded transporters, Pakistan's leading daily, Dawn, reported that around 4000 to 5000 vehicles, carrying multiple trade goods, are waiting for the border to reopen with no definite date in sight in the near future for the resumption of trading relations between the two nations. Transporters said that they were facing several issues, including personal and goods security, monetary losses, shortage of food and water and continuous mental torture. A local transporter told the newspaper that said that a number of his fellow transporters had exhausted their money during the past two weeks for arranging water and food, medicines and maintenance of their loaded vehicles. He said that none of the so-called transporters' unions had asked them about the problems they were facing, while the brokers and goods owners were not considering their financial issues, as they refused to offload the current consignment in order to save them from further losses. He said that they were finding it difficult to protect their loaded vehicles, arranging for food and water while also sleeping on the hard surface of the road, as they had no option. Their concerns come after tensions between Afghanistan and Pakistan escalated on October 11, days after explosions rocked Kabul while Afghanistan's Foreign Minister Amir Khan Muttaqi was in India. In response, the Taliban launched a deadly offensive along the border with Pakistan. Both countries later agreed to an immediate ceasefire after more than a week of intense fighting that left dozens dead and hundreds injured. Pakistan has accused the Taliban of allowing hostile groups, including the Tehreek-e-Taliban Pakistan (TTP), to operate from “sanctuaries” in Afghanistan, a charge denied by the Taliban. Taliban has blamed Pakistan's aggressive actions, including airstrikes on Kabul, as the reasons for the escalation of the conflict.

Torkham border dispute freezes Afghanistan-Pakistan trade, strains drivers

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Around 10.15 a.m., Sensex was trading at 39,332.45, higher by 358.75 points or 0.92 per cent from the previous close of 38,973.70.

It opened at 39,336.34 and has so far touched an intra-day high of 39,374.57 and a low of 39,191.10.

The Nifty50 on the National Stock Exchange was trading at 11,602.35, higher by 99.00 points or 0.86 per cent from the previous close.

The top gainers on the Sensex were HDFC, Mahindra & Mahindra and Asian Paints, while the major losers were TCS, Infosys and NTPC.

IANS

Sensex up 350 points; finance, auto stocks rise

Sensex jumps 567 points amid global stocks rally on hopes of US-China trade deal, Fed rate cuts

Torkham border dispute freezes Afghanistan-Pakistan trade, strains drivers

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