Mumbai, India (BBN) – The benchmark BSE Sensex was trading above the 29,000-mark as investors and domestic institutions widened bets, tracking a rally in global markets.
At 10.10am, the 30-share BSE index Sensex was up 113.28 points or 0.39 per cent at 29,097.77 and the 50-share NSE index Nifty was up 37.9 points or 0.42 per cent at 8,983.70, reports The Hindu Business Line.
Among BSE sectoral indices, metal index gained the most by 1.25 per cent, followed by auto 1.16 per cent, consumer durables 0.94 per cent and capital goods 0.69 per cent.
On the other hand, realty index was down 0.75 per cent and healthcare 0.11 per cent.
Top five Sensex gainers were Tata Motors (+3.12 per cent), ICICI Bank (+1.54 per cent), Coal India (+1.15 per cent), Bajaj Auto (+1.15 per cent) and Asian Paints (+1.04 per cent), while the major losers were Sun Pharma (-1.2 per cent), Dr Reddy’s (-1.07 per cent), Power Grid (-0.65 per cent), NTPC (-0.53 per cent) and ITC (-0.52 per cent).
The 30-share index spurted 148.46 points or 0.51 per cent to 29,132.95.
The gauge had rallied by 241.17 points in the previous session on the back of robust GDP data for the December quarter and positive global cues.
All the sectoral indices, led by metal, auto, oil & gas and consumer durables, were trading in positive zone with gains of up to 1.33 per cent.
The National Stock Exchange index Nifty too climbed 43.70 points or 0.48 per cent to 8,989.50.
Brokers said that the domestic sentiment was buoyed due to a firm trend in other Asian markets after the US bourses closed at new highs yesterday.
There has been a growing optimism over corporate tax cuts and other policy proposals reiterated by US President Donald Trump during his speech before the Congress.
Asian shares rose on Thursday as investors were encouraged by President Donald Trump’s less combative tone in his first speech to Congress, which sent Wall Street stocks sharply higher, while growing bets on a US rate hike this month buoyed the dollar.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent, led by rebounds in Australian and Hong Kong shares.
The Dow on Wednesday blasted through the 21,000 mark for the first time after US President Donald Trump’s measured tone in his first speech to Congress lifted optimism and investors viewed a looming interest rate hike as a glass half full.
The three main stock indexes surged more than 1.3 per cent to close at record highs.