Markets

Sensex rises over 200 pts; Nifty tests 12,100

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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According to analysts, sustained foreign fund inflow amid positive cues from global markets buoyed market sentiment

Market benchmark BSE Sensex jumped over 200 points in early trade on Wednesday led by gains in HDFC twins, TCS and RIL as unabated foreign fund inflow and positive global cues enthused investor sentiment.

After hitting a high of 41,075.76, the 30-share index was trading 207.41 points, or 0.51%, higher at 41,028.71 in morning session. Similarly, the broader Nifty rose 59.30 points, or 0.49%, to 12,096.75.

Yes Bank was the top gainer in the Sensex pack rallying up to 5%, followed by Tata Motors, M&M, HDFC, HDFC Bank, Maruti, IndusInd Bank, Vedanta and TCS.

On the other hand, ICICI Bank, Tata Steel, L&T and ITC were trading in the red.

On Tuesday, the Sensex touched its all-time intra-day high of 41,120.28 before closing down by 67.93 points or 0.17% at 40,821.30. The Nifty also soared to a new peak of 12,132.45 in day trade before giving up gains to end lower by 36.05 points or 0.30% at 12,037.70.

According to analysts, sustained foreign fund inflow amid positive cues from global markets buoyed market sentiment.

Short covering ahead of the expiry of November derivatives contracts on Thursday is also contributing to the rally, traders said.

Foreign institutional investors bought shares worth ₹4,677.75 crore in the capital market in the previous session, while domestic institutional investors sold equities worth ₹4,242.01 crore, data available with stock exchange showed.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note amid hopes of a breakthrough in the trade logjam between the US and China.

Stocks on Wall Street ended in the green on Tuesday.

On the currency front, the rupee appreciated 6 paise against the US dollar to trade at 71.43 in early session.

Brent futures, the global oil benchmark, slipped 0.24% to USD 63.06 per barrel.

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Printable version | Dec 6, 2019 1:30:00 AM | https://www.thehindu.com/business/markets/sensex-rises-over-200-pts-nifty-tests-12100/article30094256.ece

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