Mumbai, India (BBN) – The Nifty and the Sensex, both opened with a gap-up and were trading in the green as better than expected jobs data in the US buoyed global markets.
The Nifty opened 44 points up at 8,785 while the Sensex opened 99 points up at 28,340, reports The Hindu Business Line.
At about 9.50am, the Sensex rose 206.79 points or 0.73 per cent to 28,447.31 while the NSE Nifty jumped 59.20 points or 0.68 per cent to 8,800.15.
The advances to decline ratio was in favour of advances as 48 stocks gained against 8 that declined on the Nifty.
Similarly, on the Sensex, 26 advanced, 3 declined and one remained unchanged.
ICICI Bank was up over 2.4 per cent, Hero MotoCorp was up 1.51 per cent, SBI 1.48 per cent, Axis Bank 1.45 per cent and Lupin 1.12 per cent. Dr Reddy’s was down 2.26 per cent, Coal India 0.32 per cent and M&M 0.07 per cent.
All the sectoral indices were trading in the green. Realty, bank, capital goods, consumer durables and FMCG were the top gainers on the BSE.
A report by SMC Global said “Asian stocks were poised to gain in the wake of a US advance at the end of last week when the Trump administration’s move to roll back financial regulations sparked a rally in banks.
Equities from Japan to Hong Kong climbed after the Dow Jones industrial average was up 0.94 per cent before weekend, its best trading day for 2017.
Employment in the US increased by more than anticipated in the month of January, the Labor Department reported non-farm payroll employment jumped by 227,000 jobs in January after climbing by a revised 157,000 jobs in December.
Economists had expected an increase of about 175,000 jobs compared to the addition of 156,000 jobs originally reported for the previous month.”
India Vix was quoting at 13.4050, up 2.11 per cent.