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Sensex gets a buying lift, up 123 points, Nifty edges 38 points; Reliance Industries at new high; Re slides

Mumbai: The benchmark Sensex climbed over 123 points to 35,670.39 in opening trade today, led by gains in index heavyweight Reliance Industries, amid continued buying by domestic institutional investors.

The 30-share index was quoting higher by 123.06 points, or 0.35 percent, at 35,670.39. It had gained 260.59 points in the previous session.

All the sectoral indices were trading higher, led by capital goods, consumer durables, infrastructure, banking, realty and oil and gas.

Similarly, the broader 50-share NSE Nifty edged up 37.55 points, or 0.34 percent, to 10,809.60.

Stocks of Reliance Industries continued its upward trajectory, scaling a new peak of Rs 1,031 by surging 1.08 percent.

Other gainers included Adani Ports, ICICI Bank, Tata Motors, Axis Bank IndusInd Bank, Asian Paints, Hero MotoCorp, L&T, TCS, Tata Steel and Bharti Airtel, rising by up to 2.05 percent.
Sentiment was largely buoyed by continued pumping of funds into markets by domestic institutional investors (DIIs) amid a mixed trend at other Asian markets.

Representative image. Getty images

Representative image. Getty images

Japan's Nikkei was up 0.52 percent, while Hong Kong's Hang Seng declined 0.84 percent in early trade today. Shanghai Composite too was marginally down. The US Dow Jones Industrial Average ended 0.17 percent lower yesterday.

Rupee slides 16 paise against dollar

The rupee slipped 16 paise to 68.24 against the US dollar in early trade today due to fresh buying of the American currency by importers amid sustained foreign fund outflows.

Forex dealers said the dollar hovering near an 11-month high against a basket of currencies overseas, supported by a rise in US yields, also weighed on the rupee but a higher opening of the domestic equity markets limited the fall.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,442.61 crore yesterday, as per provisional data issued by stock exchanges.

Yesterday, the local currency had staged a good comeback to end with a sharp gain of 30 paise at 68.08 against the US currency on heavy bouts of dollar selling by banks and exporters with equities gaining ground.

Updated Date: Jun 21, 2018 10:28 AM

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