Mumbai, India (BBN)-The Sensex and Nifty were trading higher by nearly 0.4 per cent on sustained buying by domestic investors ahead of key macroeconomic data to be released later in the day.
Besides, a positive start of the earnings season and a firm trend in other Asian bourses also fuelled the domestic market sentiment, reports The Hindu Business Line.
Investors cheered better-than-expected Q3 numbers in IndusInd Bank.
TCS shares rose 0.82 per cent to Rs. 2,342.00 ahead of Q3 earnings to be released later Thursday.
At 11.15am, the 30-share BSE index Sensex was up 94.17 points or 0.35 per cent at 27,234.58 and the 50-share NSE index Nifty was up 21.55 points or 0.26 per cent at 8,402.20.
A report by SMC Global said: “Asian stocks opened mixed, Japanese equities dropped as the yen strengthened despite strong overnight cues from the US The European and US markets were up, as Wall Street overcame its brief wobble to end Wednesday firmer.
The Dow added 0.5 per cent, while the Nasdaq gained 0.21 per cent following US President-elect Donald Trump’s first post-election press conference, which was devoid of any policy details.
Japan had a current account surplus of 1.415 trillion yen in November, the Ministry of Finance said – up 28.0 per cent on year.
The headline figure was shy of expectations for a surplus of 1.460 trillion yen and down from 1.719 trillion yen in October.
The trade balance showed surplus of 313.4 billion yen – exceeding forecasts for 254.4 billion yen and down from 587.6 billion yen in the previous month.
Exports were down 0.8 per cent on year to 5.890 trillion yen, while imports tumbled 10.7 per cent to 5.577 trillion yen.”
Among BSE sectoral indices, power index gained the most by 2.16 per cent, followed by IT 1.12 per cent, capital goods 1.08 per cent and infrastructure 1.02 per cent.
On the other hand, healthcare index was down 0.72 per cent, FMCG 0.38 per cent, realty 0.14 per cent and consumer durables 0.04 per cent.
Top five Sensex gainers were Power Grid (+4.93 per cent),NTPC (+2.86 per cent), Infosys (+2.04 per cent), L&T (+1.71 per cent) and ICICI Bank (+1.45 per cent), while the major losers were Coal India (-1.47 per cent), Dr Reddy’s (-1.36 per cent), Sun Pharma (-1.34 per cent), Adani Ports (-1.22 per cent) and HUL (-0.72 per cent).