Photo : Hindu file photo
Mumbai, India (BBN)– The benchmark BSE Sensex was trading higher by nearly 80 points and the NSE index Nifty above the 9,300-mark on sustained buying by funds and retail investors owing to firm Asian cues.
Domestic sentiment was buoyed as Asian stocks rose amid optimism on improving global growth following Emmanuel Macron`s victory as France’s next president as well as bullish US jobs data, reports BusinesLine.
At 12.10 p.m., the 30-share BSE index Sensex was up 75.02 points or 0.25 per cent at 29,933.82 and the 50-share NSE index Nifty was up 31.2 points or 0.34 per cent at 9,316.50.
Among BSE sectoral indices, realty index was the star-performer and was up 1.68 per cent, followed by banking 0.88 per cent, IT 0.77 per cent and consumer durables 0.72 per cent. On the other hand, metal index was down 0.74 per cent, FMCG 0.29 per cent and oil & gas 0.13 per cent.
Top five Sensex gainers were ICICI Bank (+2.71%), ONGC (+1.96%), Tata Motors (+1.12%), Wipro (+1.05%) and Lupin (+0.84%), while the major losers were Adani Ports (-1.59%), Tata Steel (-0.75%), ITC (-0.74%), Reliance (-0.59%) and Power Grid (-0.53%).
Meanwhile, FIIs sold shares net worth Rs. 363.98 crore last Friday as per the provisional figures issued by stock exchanges.
Early trade
The 30-share index gained 78.22 points or 0.26 per cent to 29,937.02 with all the sectoral indices led by consumer durables, auto, capital goods and healthcare, trading in the positive terrain by gaining up to 0.66 per cent.
The gauge had lost 267.41 points in the previous session on Friday on global weakness due to a renewed slide in crude oil prices.
Meanwhile, the NSE Nifty regained the 9,300-mark by rising 24.05 points, or 0.26 per cent, to trade at at 9,309.35.
Investors resorted to buying owing to firm Asian cues following a Wall Street rally at the close of last week. Investors also cheered centrist Emmanuel Macron’s victory over anti-EU Marine Le Pen in France’s presidential election.
Asian shares
The euro hit a six-month high against the dollar on Monday while Asian shares gained and US stock futures briefly touched a record high, on investor relief after centrist Emmanuel Macron comfortably won the French presidential election.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 per cent, snapping a three-day losing streak.
Japan’s Nikkei gained 1.7 per cent to hit a near 1 1/2-year high after a five-day weekend due to the Golden Week holidays.
The S&P 500 mini futures gained 0.2 per cent to hit a record high of 2,403.75 in early trade before giving up the gains to trade flat.
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