Mumbai, India (BBN)-The Nifty and the Sensex were trading higher owing to positive global cues.
Asian stocks edged up to a three-month high on Wednesday, helped by a firm finish on Wall Street, while a rebound in the dollar looked vulnerable as some investors grew sceptical about US President Trump’s policies translating into further gains, reports The Hindu Business Line.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent to its highest levels since late October.
Australia and Japan led regional stock markets higher.
At 10.40 am, the 30-share BSE index Sensex was up 118.32 points or 0.43 per cent at 27,493.90 and the 50-share NSE index Nifty was up 39.7 points or 0.47 per cent at 8,515.50.
Barring Nifty PSU Bank, all the broader and sectoral indices were trading in the green.
Volatility was down 2.19 per cent with the India Vix quoting at 14.9500.
Among BSE sectoral indices, realty and consumer durables indices gained the most by 1.21 per cent followed by metal 0.96 per cent and consumer durables 0.7 per cent.
Only TECk index was down 0.1 per cent.
Top five Sensex gainers were Tata Steel (+1.98 per cent), HDFC (+1.87 per cent), Axis Bank (+1.44 per cent), Adani Ports (+1.23 per cent) and ONGC (+0.99 per cent), while the major losers were Bharti Airtel (-1.88 per cent), Reliance (-0.5 per cent), Dr Reddy’s (-0.42 per cent), Power Grid (-0.37 per cent) and Wipro (-0.33 per cent).
A report by SMC Global said: “Asian stocks rallied following strong overnight cues from the Wall Street as stocks in Asia joined a global equities rally as corporate results reignited investors’ optimism in economic growth. The European and US markets were up. US indices surged the most in three weeks on Tuesday driven by robust corporate earnings and investors welcomed US President Donald Trump’s eagerness to deliver on his campaign promises. Sales of previously owned homes in US slipped in December, hurt by a lack of available homes. The decline, which was slightly more than economists had predicted, took the figure off a multi-year high reached in the previous month. The National Association of Realtors said existing home sales fell 2.8 per cent in December to reach an annual pace of 5.49 million units. November’s pace was revised slightly higher, to 5.65 million units.”