Sensex rises over 100 points, Nifty edges to 11,000-mark on positive global cues led by IT stocks

  • Top gainers in the Sensex pack included TCS, Infosys, Hero MotoCorp, TechM, HCL Tech and PowerGrid, rising up to 2%

  • Yes Bank, Bajaj Finance, IndusInd Bank, Axis Bank and Sun Pharma rose up to 4.50%

  • Bourses on Wall Street ended significantly higher on Monday

BSE Sensex rose over 100 points in early trade on Tuesday led by gains in IT stocks amid positive cues from global markets.

The 30-share was trading 100.23 points or 0.27 percent higher at 37,502.72 at 0930 hours, and the broader Nifty too rose 16.15 points or 0.15 percent to 11,070.05 in morning trade.

In the previous session on Monday, the 30-share Sensex settled 52.16 points, or 0.14 percent, higher at 37,402.49, and the NSE Nifty edged 6.10 points, or 0.06 percent, up at 11,053.90.

Top gainers in the Sensex pack included TCS, Infosys, Hero MotoCorp, TechM, HCL Tech and PowerGrid, rising up to 2 percent.

While, Yes Bank, Bajaj Finance, IndusInd Bank, Axis Bank and Sun Pharma rose up to 4.50 percent.

 Sensex rises over 100 points, Nifty edges to 11,000-mark on positive global cues led by IT stocks

Representational image. Reuters.

According to traders, domestic equities followed global stocks which rallied on expectations of stimulus measures from German and Chinese governments. Investors are also hoping for dovish comments from Federal Reserve Chair Jerome Powell in Jackson Hole, Wyoming, US, later this week, a PTI report said.

Dewan Housing Finance shares fall 5 percent in pre-open session after the NBFC defaults on 15.71 billion rupees bond repayments on Monday, Reuters said.

Pune-based startup Alphalogic Techsys became the first company to be listed on the BSE startup platform. Alphalogic Techsys Limited. The company announced its Initial Public Offering (IPO) of 7,80,000 shares of face value of Rs 10 each. With the issue priced at Rs 99 per share, the total issue size is Rs 7.72 crore.

The company intends to use the proceeds from the IPO to fund its expansion Elsewhere in Asia, Hang Seng, Shanghai Composite Index, Nikkei and Kospi were trading in the green in their respective late morning sessions.

The Bombay Stock Exchange is planning several new contracts whose launch is scheduled for the December quarter, after consolidating its position in the commodity derivatives segment, a report in the Business Standard said. The new contracts will be introduce in October-December quarter include Brent crude oil, soya bean, kapas and a first-of-its-kind almond contract in India, all subject to regulatory approval, the report added.

Bourses on Wall Street ended significantly higher on Monday.

Meanwhile, foreign portfolio investors sold shares worth a net of Rs 305.74 crore on Monday, while domestic institutional investors purchased shares worth Rs 386.23 crore, provisional data showed.

On the currency front, the rupee depreciated 18 paise versus the dollar against its previous close to trade at 71.62 in early session.

Brent crude futures, the global oil benchmark, rose 0.07 percent to 59.78 per barrel.

--With agency inputs

Updated Date: Aug 20, 2019 10:45:10 IST