After trading in Red Sensex opens Green, over 300 points up

Sensex

MUMBAI: The S&P BSE Sensex opened with a gap-up on the back of positive cues from global markets and as the cabinet cleared GST Bill. All the sectoral indices were in the green with banks, capital goods and metals leading the rally.

The sentiment in global markets got a boost from the Federal Reserve as it modified its statement from ‘considerable time’ to ‘can be patient’ about the timing of the first rate.

“The gap-up opening lay in store. The Indian currency which probably saw central bank intervention will be in focus. Short-covering may be seen on many counters which could further push the indices higher. On the political front, the progress on the GST is also seen as a major positive. The bill is likely to be introduced in Parliament today,” said IIFL report.

At 09:16 a.m.; the 30-share index was at 27,004.46, up 294.33 points or 1.10 per cent. It touched a high of 27,105.80 and a low of 26,981.65 in early trade.The Nifty was at 8,113, up 83.20 points or 1.04 per cent. It touched a high of 8,151.50 and a low of 8,111.55 in trade today.

The S&P BSE Midcap Index was up 1.89 per cent and the S&P BSE Smallcap Index rallied 2.11 per cent.Among the sectoral indices, the S&P Bankex surged 2.09 per cent, the S&P BSE Capital goods Index was 2.26 per cent higher and the S&P BSE Metal Index gained 1.47 per cent.

SBI (up 3.15 per cent), BHELBSE 4.59 % (up 3.08 per cent), ICICI BankBSE 3.01 % (up 3.02 per cent), HindalcoBSE 3.90 % (up 2.89 per cent) and Tata MotorsBSE 2.19 % (up 2.67 per cent) were among the major Sensex gainers.

ITCBSE 1.18 % (0.40 per cent), HULBSE 0.02 % (0.39 per cent) and Coal IndiaBSE -0.41 % (0.18 per cent) were the only Sensex losers.

The market breadth was positive on the BSE with 1216 gainers against 157 losers.The Asian markets are in the green with Japan’s Nikkei 225 and Hong Kong’s Hang Seng gaining around half a percent.

Source:Economictimes