Mumbai, India (BBN) – The benchmark BSE Sensex was trading higher by nearly 100 points owing to firm global cues with energy shares leading the gains, while financial and auto shares bounced back.
At 2:00pm, the 30-share BSE index Sensex was up 93.76 points or 0.32 per cent at 29,261.44 and the 50-share NSE index Nifty was up 34 points or 0.38 per cent at 9,064.45, reports The Hindu Business Line.
Among BSE sectoral indices, oil & gas index was the star-performer and was up 1.09 per cent, auto 0.97 per cent, metal 0.91 per cent and capital good 0.88 per cent.
Major Sensex gainers were Tata Motors (+3.02 per cent), Hero MotoCorp (+1.95 per cent), Wipro (+1.68 per cent), GAIL (+1.65 per cent) and NTPC (+1.62 per cent), while the major losers were TCS (-1.17 per cent), ITC (-0.89 per cent), HDFC Bank (-0.4 per cent), HUL (-0.35 per cent) and Bharti Airtel (0-0.25 per cent).
Energy sector topped the gains on the NSE index even as oil prices remained under pressure. Finance and auto sectors recovered from the previous day’s fall.
The BSE Mid-Cap index was up 0.87 per cent and the BSE Small-Cap index was also up 0.97 percent.
Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong.
Foreign portfolio investors (FPIs) bought shares worth Rs. 356.64 crore yesterday, as per provisional data released by the stock exchanges.
Domestic institutional investors (DIIs) sold shares worth Rs. 779.91 crore, as per provisional data.
Key indexes had on Wednesday recorded their highest intraday loss in over two months, triggered by a slump on the Wall Street due to a lack of clarity in US President Donald Trump’s economic policies.
US shares recovered on Wednesday while Asian stocks rose on Thursday, taking cues from gains on Wall Street.
“The bounce-back is due to both global and local factors. Mutual funds are getting record-high inflows everyday. Flows have been very strong on both domestic and FII (foreign institutional investors) fronts,” said Miraj Vora, derivative analyst at Prabhudas Lilladher Pvt Ltd.
“We are heading into the expiry week. So there would be pressure on that front. It’s looking very difficult for the Nifty to cross the 9,150-9,200 levels on the upside or break 9,000 on the lower side for this expiry,” added Vora.
“Banks have recovered today, but a meeting to discuss waiver of farm loans is scheduled on Friday and if something drastic comes out of that meeting, we may see banks facing some pressure,” added Vora.
Asian stocks, taking some cues from a steady Wall Street, edged up on Thursday while the path for the dollar, which crawled up from a four-month low, remained clouded by concerns about the prospects for US President Donald Trump’s pro-growth agenda.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2 per cent.