Sensex rises over 100 points on firm rupee, falling crude prices; IT, tech, FMCG stocks advance
Sensex bounced by 134.93 points or 0.38% to 35,334.73 while the Nifty was up 36.75 points or 0.36% at 10,636.80.
Mumbai: The benchmark BSE Sensex recovered over 100 points in early trade on fresh gains in blue-chips like Infosys, RIL, TCS and HDFC amid rising rupee and easing crude prices.
The 30-share index bounced by 134.93 points, or 0.38 percent to 35,334.73, with sectoral indices led by IT, tech, FMCG and oil and gas stocks advancing up to 1.15 percent.
The barometer had lost over 575 points in the previous two sessions. Also, the NSE Nifty was up 36.75 points, or 0.36 percent, at 10,636.80.
Brokers said fresh buying by domestic institutional investors (DIIs) and retailers, coupled with strengthening rupee against the US dollar and falling global crude oil prices, influenced trading sentiments here. Negative Asian cues, however, capped the gains.
The rupee rose by 35 paise to trade at 71.11 against the dollar in early trade at the interbank forex market Thursday.
Prominent gainers were TCS, Yes Bank, ONGC, Vedanta, Wipro, HDFC, Adani Ports, RIL, IndusInd Bank, L&T, HUL, Tata Motors, ITC and HDFC Bank, rising up to 1.57 percent. However, Bharti Airtel emerged worst Sensex performer, falling over 2 percent, followed by M&M PowerGrid, Tata Steel and SBI.
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net of Rs 606.73 crore, while foreign institutional investors (FIIs) sold shares to the tune of Rs 1,652.04 crore Wednesday, provisional data showed.
Elsewhere in Asia, Japan's Nikkei fell 0.02 percent, Shanghai Composite Index shed 0.55 percent, Hong Kong's Hang Seng dropped 0.31 percent and Singapore declined 0.30 percent in early trade.
The US Dow Jones Industrial Average gave up initial gains to end almost flat Wednesday.
The Sensex rose 0.29 percent to end the day at 58,296.91, while, Nifty 50 ended the day in green with a growth of 0.31 percent or 54.20 points
BSE Midcap ended at 24,382.19, up by 84.68 points or 0.35 percent while BSE Smallcap rose by 0.41 percent to settle at 27,305.31
In an exclusive interview to political editor Marya Shakil of CNN-News18, she also addresses the Infosys controversy by saying that the “anti-national statement" made by RSS-backed magazine Panchajanya was not right at all.