Mumbai, India (BBN)-The Nifty and the Sensex were trading flat as the markets were yet to return to normalcy in traded volume after the holidays.
At 11.15 am, the 30-share BSE index Sensex was up 19.44 points or 0.07 per cent at 26,662.68 and the 50-share NSE index Nifty was up 8.55 points or 0.1 per cent at 8,200.80, reports The Hindu Business Line.
Among BSE sectoral indices, metal gained the most by 0.82 per cent, capital good 0.74 per cent, realty 0.73 per cent and auto 0.71 per cent. On the other hand, banking index was down 0.26 per cent and FMCG 0.04 per cent.
Top five Sensex gainers were Tata Motors (+2.16 per cent), ONGC (+1.66 per cent), Coal India (+1.18 per cent), Wipro (+1.08 per cent) and Bajaj Auto (+0.95 per cent), while the major losers were Reliance (-1.43 per cent), Cipla (-0.97 per cent), Bharti Airtel (-0.58 per cent), Lupin (-0.49 per cent) and HUL (-0.38 per cent).
A report by SMC Global said: “US equities saw strong gains as strong manufacturing data fuelled confidence in the US economy as US dollar extended gains. Global equities rally extended into the New Year as data from the US, China and Europe boosted optimism for global growth.
Japanese equities gained close to 2 per cent in the first trading session of 2017 in Asia, after strong economic data fuelled gains in the US dollar against weaker yen.
Chinese shares were lower, despite the overall cheer in Asian markets.
US manufacturing expanded at the fastest pace in two years led by the biggest pickup in new orders since 2009.
The Purchasing Managers Index for December rose to 54.7, its fourth straight monthly advance, according to data.
Orders for exports rose at its fastest pace since May 2014 while the addition of staff grew at the quickest rate since mid-2015.
The positive economic data helped the US markets snap a three-day losing streak.
The S&P 500 Index posted its biggest gains in four weeks while the Dow Jones Industrial Average gained over a 100 points to head closer towards the 20,000 mark.
The NASDAQ Composite Index advanced 0.85 per cent.”
The US dollar crept nearer to14-year peaks on Wednesday as an abundance of upbeat global economic data boosted Wall Street and signs of quickening inflation dented fixed-income debt.
The strength of the US currency pressured commodity prices and helped drag oil off an 18-month top, but gave Japan’s exporter-heavy stock market a fillip.
The Nikkei climbed 2.1 per cent, recovering from two sessions of losses as domestic data showed factory activity expanded at the fastest pace in a year.