Sensex rules firm in late morning deals, up 215 points

The benchmark Sensex ruled firm in the late morning deals, up 215.05 points to 28,117.71 on buying in most of the sectors led by auto, bank, realty, metal, Oil&Gas and capital goods.

Higher Asian cues and sustained FII buying also supported the market sentiment.

The 30-share index resumed higher at 27,012.46 and hovered between 28,138.24 and 28,010.66 before quoting at 28,117.71 at 1100 hrs, showing a rally of 215.05 or 0.77 per cent over its last close.

The NSE 50-share Nifty was also trading higher by 66.90 points, or 0.78 per cent, at 8,674.35.

Major gainers were Tata Motors 4.56 pct, Heromoto 1.44 pct, Tata Steel 1.12 pct, Reliance 1.04 pct and Bharti Airtel 0.70 pct.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 286.52 crore yesterday, as per provisional data released by the stock exchanges.

Notable gainers were Maruti 2.80 pct, Bajaj Auto 2.80 pct, GAIL 1.80 pct, ICICI bank 1.44 pct and HUL 1.35 pct.

Overseas, Asian stocks were trading higher tracking overnight gains in US stocks as commodities prices rebounded.

US stocks finished higher yesterday on increased prospects of Federal Reserve raising rates in 2016. Investors continued to weigh remarks of Federal Reserve Chair Janet Yellen.

Sensex Opening:

Market benchmark Sensex extended gains for the second straight session to reclaim the 28,000 mark by surging over 177 points in early trade tracking gains on Wall Street and other Asian bourses.

The BSE 30-share barometer, which had gained 120.41 points in yesterday’s trade, advanced by 176.95 points, or 0.63 per cent, to 28,079.61.

All sectoral indices led by auto, oil&gas and healthcare stocks were trading in the green, gaining up to 0.95 per cent.

Also, the NSE Nifty climbed 51.25 points, or 0.59 per cent, to 8,658.70.

Brokers said sustained buying by investors coupled with fresh round of buying by foreign as well as domestic financial institutions had a positive impact.

A firm trend at other Asian bourses following a strong lead from Wall Street too influenced sentiment, they added.

Japan’s Nikkei was up 0.03 per cent while Singapore rose 0.16 per cent in early trade. Hong Kong’s Hang Seng up 0.68 per cent and Shanghai Composite gained 0.04 per cent.

The US Dow Jones Industrial Average ended 0.58 per cent higher on Monday.