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.
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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.
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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.