Sensex rises over 100 points on sustained DIIs buying, global cues; M&M, TCS, HDC among biggest gainers
The Sensex settled 2.96 points or 0.01% higher at 36,321.29
After rising 147 points, the 30-share index was trading 72.16 points or 0.20% higher at 36,393.45 in early trade
In morning session, the biggest gainers in the Sensex pack were M&M, TCS, HDFC, PowerGrid, RIL, Maruti, Tata Motors and NTPC, rising up to 1.65%
Yes Bank, IndusInd Bank, ITC, HUL, Bharti Airtel and Infosys were the top losers, shedding up to 1.10%
Mumbai: Extending gains for the third session, the BSE benchmark Sensex on Thursday rose over 100 points tracking sustained buying by domestic institutional investors (DIIs) and positive global cues.
After rising 147 points, the 30-share index was trading 72.16 points, or 0.20 percent, higher at 36,393.45 in early trade. Similarly, the NSE Nifty rose 24.50 points, or 0.22 percent, to 10,914.80.
On Wednesday, the Sensex settled 2.96 points, or 0.01 percent, higher at 36,321.29, and the Nifty inched up 3.50 points, or 0.03 percent, to 10,890.30.
In morning session on Thursday, the biggest gainers in the Sensex pack were M&M, TCS, HDFC, PowerGrid, RIL, Maruti, Tata Motors and NTPC, rising up to 1.65 percent.
While, Yes Bank, IndusInd Bank, ITC, HUL, Bharti Airtel and Infosys were the top losers, shedding up to 1.10 percent.
According to Viral Berawala, CIO, Essel Mutual Fund, there would be stock-specific movement in next few days based on results, as global market participants would wait for the interim budget before allocating fresh flows to India.
Index heavyweights RIL and HUL are scheduled to release their quarterly earnings later in the day.
Despite some volatility, the market demonstrated strength this week as recognition of upcoming stimulus fiscal and monetary likely lies ahead, said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management.
"The bond markets have taken the news in stride, buoyed by the below expectations inflation data," he added.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 90.10 crore Wednesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 304.27 crore, provisional data available with BSE showed.
The rupee, meanwhile, was trading marginally higher against the US dollar at 71.22.
The benchmark Brent crude futures fell 0.47 percent to $61.03 per barrel.
Elsewhere in Asia, Hong Kong's Hang Seng was up 0.36 percent, Shanghai Composite Index was trading 0.46 percent higher and Kospi rose 0.20 percent in early trade; while Japan's Nikkei shed 0.08 percent.
On Wall Street, Dow Jones Industrial Average ended 0.59 percent higher at 24,207.16 points on Wednesday.
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