Snapping a two-day falling streak, benchmark stock indices opened on a positive note on Thursday after BJP’s B.S. Yeddyurappa was sworn in as the chief minister of Karnataka.
Unabated buying by domestic institutional investors set the tone, brokers said.
Mr. Yeddyurappa was on Thursday sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court.
The 30-share Sensex bounced 122.13 points, or 0.34%, to 35,510.01. It had lost 168.83 points in the previous two sessions.
All the sectoral indices, led by consumer durables, realty, metal, power and banking, were in the green.
The NSE Nifty also jumped 36.15 points, or 0.33%, to 10,777.25.
Major movers in the Sensex kitty included Coal India, Power Grid, Wipro, SBI, Kotak Bank, Sun Pharma, ICICI Bank, TCS, Infosys, M&M, L&T and Maruti Suzuki, rising up to 1.79 per cent.
Tata Steel, however, fell 0.83% despite the company on Wednesday reporting a consolidated net profit of ₹14,688.02 crore for the fourth quarter ended March, 2018.
Domestic institutional investors (DIIs) bought shares worth a net ₹229.06 crore, while foreign portfolio investors (FPIs) sold shares worth ₹699.22 crore on Wednesday, as per provisional data.
In the rest of Asia, Japan’s Nikkei rose 0.44%, Hong Kong’s Hang Seng inched up 0.01%, while Shanghai Composite Index shed 0.35% in early deals.
The US Dow Jones Industrial Average ended 0.25% higher on Wednesday as retailers results and solid economic data boosted confidence in the American economy.
