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Sensex reclaims 36K-mark in early trade ahead of key earnings; Re slips 12 paise to Rs 68.84

Mumbai: The benchmark Sensex advanced by over 200 points to reclaim the 36,000-mark in early trade today led by gains on IT, realty and capital goods counters, ahead of key quarterly results scheduled later in the day.

The 30-share index rose for the third straight day by gaining 203.87 points, or 0.57 percent, at 36,138.59 in early trade.

IT, realty, capital goods, oil and gas, metal, tech, auto, PSU, power, and banking stocks led the upward movement, by rising up to 1.16 percent.

The gauge had gained 360.17 points in the previous session two sessions.

The NSE Nifty also recaptured the 10,900 mark. The index was trading higher by 61.85 points, or 0.57 percent, at 10,914.75.

Support came from key stocks such as Yes Bank, RIL, Adani Ports, HDFC Bank, Bajaj Auto, SBI, Bharti Airtel, Tata Motors, ICICI Bank, Tata Steel, NTPC, Maruti, Tata Steel, Infosys, Coal India, L&T, and HDFC, rising up to 1.72 percent.

Traders said widening of bets by investors ahead of Q1 numbers from IndusInd Bank and TCS, amid sustained buying by domestic institutional investors (DIIs) influenced market sentiment.

Representational image. Reuters

Representational image. Reuters

TCS shares rose 0.65 percent to Rs 1,900, while IndusInd Bank fell 0.17 percent to Rs 1,951.35.

Meanwhile, DIIs bought shares worth a net of Rs 740.39 crore, while Foreign institutional investors (FIIs) sold shares worth a net of Rs 569.91 crore yesterday, provisional data showed.

Overseas, most Asian stocks rose amid optimism over the upcoming earnings season, that is expected to be sufficiently robust to overshadow a rise in trade tensions.

Hong Kong's Hang Seng rose 0.41 percent, Japan's Nikkei gained 0.94 percent, while China's Shanghai Composite Index shed 0.06 percent.

US equities rose yesterday, as investors set aside concern about escalating trade tensions and rising political tension abroad to focus on the coming earnings season. The US Dow Jones Industrial Average ended 1.31 percent higher on yesterday.

Rupee slips 12 paise

The rupee slipped 12 paise to 68.84 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's strength against a basket of some currencies overseas too weighed on the rupee, but a higher opening of the domestic equity markets limited the fall.

Yesterday, the local currency had gained 15 paise against the US dollar to close at 68.72 on sustained dollar selling by exporters and banks amid a stellar rally in local equities and losses in the greenback.

Updated Date: Jul 10, 2018 10:21 AM

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