Hindu file photo
Mumbai, India (BBN) – The BSE benchmark index Sensex and the NSE’s broader Nifty 50 continued to trade higher in the morning session.
At about 11:15am, the Sensex was up 163.41 points or 0.54 per cent at 30,628.33 while the NSE Nifty was up 0.36 per cent or 34.20 points at 9,462.10, reports the Hindu Business Line.
FMCG, capital goods, consumer durables, realty and telecom stocks witnessed buying.
The gauge had gained 30.13 points in the previous session on Friday.
Trading sentiment got a boost after the defence ministry last week broadly finalised a policy under which select private firms will be roped in to build military platforms like submarines and fighter jets in India in partnership with foreign entities.
FMCG giant ITC rose the most among 30 Sensex constituents, climbing 4.30 per cent to Rs. 298.20.
Engineering and construction giant Larsen & Toubro rose 1.37 per cent to 1,747.80.
Adani Ports rose by 1.39 per cent and TCS by 0.95 per cent. HUL and Hero MotoCorp rose by around 1 per cent.
Among other stocks, BEL and BHEL too were up by over 1 per cent. Reliance Defence and Engineering was up 2.28 per cent.
State Bank of India, which posted two—fold jump in net profit for the last quarter of FY2016—17, was trading down by over 1 per cent due to profit booking by investors after a recent rally in the stock.
Losses of up to 2.7 per cent in Sun Pharma, HDFC, Asian Paints and Gail capped the gains of the benchmark Sensex.
Firming trend at other Asian markets cheered by the weekend rally at the Wall Street mainly accelerated buying activity on the domestic bourses, brokers said.
Sustained buying by domestic institutional investors too influenced sentiments, they added.
In other Asian markets, Hong Kong’s Hang Seng was up 0.75 per cent, while Japan’s Nikkei rose 0.30 per cent. Shanghai Composite Index, however, was marginally down by 0.11 per cent.
The US Dow Jones Industrial Average ended 0.69 per cent higher on Friday.
BBN/SS/ANS
