Sensex jumps over 150 points, Nifty up in early trade on positive global cues; infra, bank, auto stocks rally

  • Top gainers in the Sensex pack included Yes Bank, Tata Motors, Vedanta, Tata Steel, Bajaj Auto, M&M, IndusInd Bank, Maruti, SBI and L&T, rallying up to 6%

  • Tech Mahindra, Infosys, HCL Tech, TCS, PowerGrid, ITC and Kotak Bank fell up to 1.13%

  • On Monday, foreign portfolio investors sold shares worth a net of Rs 188.08 crore, while domestic institutional investors purchased shares worth Rs 686.47 crore, provisional data showed

After a long weekend, the stock markets opened today (Wednesday). BSE Sensex jumped over 150 points in early session on Wednesday, led by gains in infra, banking and auto stocks.

 Sensex jumps over 150 points, Nifty up in early trade on positive global cues; infra, bank, auto stocks rally

Stock brokers. Representational image. Reuters.

Stock exchanges were closed on Tuesday on account of Muharram.

After touching a high of 37,145.45, the 30-share index was trading 89.72 points, or 0.24 percent, higher at 37,235.17 at 0950 hours, while the broader Nifty rose 21.55 points, or 0.20 percent, to 11,024.60.

In the previous session on Monday, the BSE barometer ended 163.68 points, or 0.44 percent, higher at 37,145.45; and the NSE Nifty settled 56.85 points, or 0.52 percent, up at 11,003.05, according to PTI.

Top gainers in the Sensex pack included Yes Bank, Tata Motors, Vedanta, Tata Steel, Bajaj Auto, M&M, IndusInd Bank, Maruti, SBI and L&T, rallying up to 6 percent.

On the other hand, Tech Mahindra, Infosys, HCL Tech, TCS, PowerGrid, ITC and Kotak Bank fell up to 1.13 percent.

According to experts, market sentiment has improved due to positive global cues and hopes of further measures by the government to boost economy.

Finance Minister Nirmala Sitharaman on Tuesday said the government has set up a task force to boost investments in infrastructure projects and is in the process of identifying the sectors which needed funding from the centre.

On Monday, foreign portfolio investors sold shares worth a net of Rs 188.08 crore, while domestic institutional investors purchased shares worth Rs 686.47 crore, provisional data showed.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Japan and Korea were trading in the green in their respective late morning sessions.

On Wall Street, bourses ended flat on Tuesday.

Bond yields climbed and stock markets held steady on Wednesday, as hopes of easing US-China tensions and diminished risk of a no-deal Brexit prompted traders to take profit before key central bank meetings, Reuters said.

The rupee, meanwhile, depreciated 4 paise against its previous close at 71.75 in early session.

Global oil benchmark Brent crude surged 0.91 percent to 62.95 per barrel.

Updated Date: Sep 11, 2019 10:41:39 IST