Sensex jumps over 100 points, Nifty opens positive; Tata Motors, Vedanta among top gainers, bank stocks rise

BSE Sensex jumped over 100 points in early trade Tuesday driven by gains in banking stocks, amid mixed cues from global markets.

Press Trust of India July 16, 2019 10:19:33 IST
Sensex jumps over 100 points, Nifty opens positive; Tata Motors, Vedanta among top gainers, bank stocks rise
  • Sensex was trading 119.81 points or 0.31% higher at 39,016.52 at 10 AM

  • Similarly, the broader Nifty rose 37.60 points or 0.32 percent, to 11,625.95

  • TCS, Hero MotoCorp, Bajaj Auto, M&M, TechM, HCL Tech, and Kotak Bank fell up to 1.62 percent

Mumbai: Domestic equity benchmark BSE Sensex jumped over 100 points in early trade Tuesday driven by gains in banking stocks, amid mixed cues from global markets.

The 30-share index was trading 119.81 points or 0.31 percent, higher at 39,016.52 at 10 AM. Similarly, the broader Nifty rose 37.60 points or 0.32 percent, to 11,625.95.

Top gainers in the Sensex pack included Tata Motors, Vedanta, NTPC, PowerGrid, ICICI Bank, SBI and Axis Bank, rising up to 1.65 percent.

On the other hand, TCS, Hero MotoCorp, Bajaj Auto, M&M, TechM, HCL Tech, and Kotak Bank fell up to 1.62 percent.

In the previous session, the 30-share gauge settled 160.48 points or 0.41 percent higher at 38,896.71, while the Nifty gained 35.85 points or 0.31 percent to end at 11,588.35.

Sensex jumps over 100 points Nifty opens positive Tata Motors Vedanta among top gainers bank stocks rise

Representational image. Reuters.

On a net basis, foreign institutional investors sold equities worth Rs 216.44 crore, while domestic institutional investors purchased shares to the tune of Rs 591.72 crore, provisional data available with stock exchanges showed Monday.

According to Vinod Nair, Head of Research at Geojit Financial Services, green shoots from earnings lifted the sentiment of IT sector, while the ease in WPI inflation (June) to 2.02 percent added some cheer in the market.

However, Q1 results announced so far have been mixed and going forward is expected to be subdued in nature, he added.

Elsewhere in Asia, Shanghai Composite Index and Nikkei were trading in the red, while Hang Seng and Kospi rose in their respective early sessions.

Meanwhile, the Indian rupee was almost flat at 68.55 against the US dollar.

The global oil benchmark Brent crude futures were trading 0.12 percent higher at 66.56 per barrel.

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