Markets

Sensex gains 74 points in early trade as crude oil eases

A view of the BSE building in Mumbai. File

A view of the BSE building in Mumbai. File   | Photo Credit: Paul Noronha

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Nifty was trading 29.50 points up.

Market benchmark BSE Sensex on Wednesday climbed 74 points backed by gains in select private bank, financial and metal stocks amid easing global crude prices.

The appreciating rupee and mixed leads from other Asian markets too influenced sentiment, traders said.

The 30-share index was trading 74.04 points or 0.18% higher at 40,313.92 in morning trade. The broader Nifty was trading 29.50 points or 0.25% up at 11,886.30.

In the Sensex kitty, ICICI Bank emerged as the biggest gainer with 0.88% rise, followed by M&M, ITC, Bajaj Finance, TCS, Tata Steel, NTPC, L&T, and HDFC.

On the other hand, Yes Bank continued to bleed with a steep 4.45% fall among the losers. Other laggards include, SBI, HUL, PowerGrid, Reliance, Bharti Airtel, Vedants and HeroMotoCorp, declining up to 0.94%.

In the previous session, the 30-share gauge closed 247.55 points or 0.61% lower at 40,239.88. On similar lines, the 50-scrip NSE Nifty fell 80.70 points or 0.68% to finish at 11,856.80.

On Tuesday, foreign institutional investors (FIIs) emerged as net sellers in the capital market, offloading Rs 366.79 crore, while domestic institutional investors bought shares worth Rs 338.40 crore, data available with stock exchange showed.

Brent futures, the global oil benchmark, fell 0.71% to USD 63.88 per barrel.

In early trade, Hong Kong gained 0.25%, Shanghai inched up 0.10%, while Tokyo and Shenzhen were trading in red. Singapore and Seoul surged up to 1.35% in morning trade.

On Wall Street, the Dow Jones closed 0.1% lower at 27,881.72.

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Printable version | Jan 22, 2020 10:03:07 PM | https://www.thehindu.com/business/markets/sensex-gains-74-points-in-early-trade-as-crude-oil-eases/article30274831.ece

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