Markets

Sensex jumps over 220 points in early trade; Nifty tops 15,850

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

Equity benchmark Sensex jumped over 220 points in early trade on Tuesday, tracking gains in index-heavyweights HDFC twins, Infosys, TCS and Reliance.

The 30-share BSE index was trading 220.67 points or 0.42% higher at 52,772.20 in initial deals. Similarly, the broader NSE Nifty advanced 62.35 points or 0.39% to 15,874.20.

All the Sensex constituents were trading with gains in morning trade.

Asian Paints was the top gainer in the pack, surging around 1.5%, followed by IndusInd Bank, ONGC, Bajaj Finserv, Hindustan Unilever, Bharti Airtel and Kotak Bank.

In the previous session, the 30-share BSE Sensex ended 76.77 points or 0.15% higher at its new closing peak of 52,551.53. The NSE Nifty rose 12.50 points or 0.08% to a record 15,811.85.

On the macro-economic data front, rising prices of edible oils and protein-rich items pushed the retail inflation to a six-month high of 6.3% in May, breaching the comfort level of the Reserve Bank and thus rendering reduction in interest rates a difficult proposition in the near term.

The wholesale price-based inflation accelerated to a record 12.94% in May, on account of rising prices of crude oil, manufactured goods and a low base of last year. In May last year, WPI inflation was (-) 3.37% and in April 2021, WPI inflation hit double-digit at 10.49%.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth ₹503.51 crore on Monday, as per provisional exchange data.

Elsewhere in Asia, bourses in Tokyo and Seoul were trading on a positive note in mid-session deals, while Shanghai and Hong Kong were in the red.

U.S. equities finished mixed in the previous session.

International oil benchmark Brent crude was trading 0.25% higher at $73.04 per barrel.


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Printable version | Aug 1, 2021 5:39:05 PM | https://www.thehindu.com/business/markets/sensex-jumps-over-220-points-in-early-trade-nifty-tops-15850/article34818379.ece

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