Sensex ends 87 points higher on positive Asian cues, Nifty up 36 points; Tata Motors, ONGC among top gainers

  • After swinging 448 points, the 30-share Sensex ended 87.39 points, or 0.23 percent, higher at 38,214.47

  • It hit an intra-day high of 38,513.69 and a low of 38,066.13

  • The broader NSE Nifty too rose 36.10 points, or 0.32 percent, to end at 11,341.15

Mumbai: The BSE benchmark Sensex closed 87 points higher after a volatile session on Monday, helped by positive Asian equities in the wake of a preliminary trade deal between the US and China.

After swinging 448 points, the 30-share Sensex ended 87.39 points, or 0.23 percent, higher at 38,214.47. It hit an intra-day high of 38,513.69 and a low of 38,066.13.

The broader NSE Nifty too rose 36.10 points, or 0.32 percent, to end at 11,341.15.

Tata Motors was the top gainer in the Sensex pack rallying 5.32 percent.

 Sensex ends 87 points higher on positive Asian cues, Nifty up 36 points; Tata Motors, ONGC among top gainers

Representational image. Reuters.

ONGC rose 4.73 percent after Oil Minister Dharmendra Pradhan said the state-owned firm was free to sell its stake in the HPCL.

Among other prominent gainers were Bharti Airtel, IndusInd Bank, Sun Pharma, Axis Bank, Maruti Suzuki, Bajaj Auto and TCS.

On the other hand, Infosys was the top laggard on the index, shedding 3.68 percent, after the company reported a 2 percent decline in its consolidated net profit for the July-September quarter.

Other losers included Bajaj Finance, PowerGrid, L&T, Kotak Bank -- dropping up to 2.37 percent.

Besides stock-specific action, domestic equities followed other Asian stocks that rallied on US President Donald Trump's statement that US had reached a "very substantial" Phase 1 trade deal with China, traders said.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended significantly higher, while those in Europe were trading in the red.

On the domestic front, wholesale price index-based inflation eased to more than a three-year low of 0.33 percent in September due to a fall in prices of fuel and certain food articles.

Market sentiment, however, remained volatile amid concerns over an economic slowdown after the World Bank said India's growth rate is projected to fall to 6 percent after a broad-based deceleration in the initial quarters of this fiscal year, traders said.

Meanwhile, the Indian rupee depreciated 13 paise to 71.16 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, plunged 2.26 percent to $59.14 per barrel.

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Updated Date: Oct 14, 2019 18:02:05 IST