Sensex gains 154 points; Nifty reclaims 9,800- level
Mumbai: The benchmark BSE Sensex surged about 154 points and the NSE Nifty reclaimed the 9,800- level in early trade today, enthused by higher capital inflows by domestic investors.
The strong start came in the face of sharp jump in inflation numbers, which were released on Monday.
The 30-share barometer, which had gained 235.44 points in the previous session on Monday, was trading higher by 153.61 points, or 0.48 percent, at 31,602.64, with FMCG, auto, power, consumer durables, IT, metal and realty stocks leading the gains. Markets remained closed yesterday on account of Independence Day.
On similar lines, the NSE Nifty was up by 36.60 points, or 0.37 percent, at 9,830.75 points.
Brokers said sentiment remained upbeat on the back of persistent buying by domestic institutional investors (DIIs) even as retail inflation jumped to 2.36 percent in July.
Wholesale inflation too rose sharply to 1.88 percent in July — first rise in five months — as some food articles turned dearer even as the industry pitched for cut in interest rates citing weak industrial activity.
Brokers also said a mixed trend at other Asian markets as fears receded over a potential clash between the US and North Korea and overnight gains at Wall Street also influenced sentiments here.
Globally, Hong Kong’s Hang Seng was up 0.45 percent, while Japan’s Nikkei gained 0.02 percent in their early trade. Shanghai’s Composite index, however, down 0.10 percent.
The US Dow Jones Industrial Average ended 0.02 percent higher yesterday.
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Source:Zee news
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