Mumbai, India (BBN)-The Sensex and Nifty were trading higher by nearly 0.4 per cent due to a pick-up in infrastructure sector in November coupled with firm Asian cues.
Led by better show in coal, steel and electricity generation, the eight core industries’ output grew 4.9 per cent in November 2016, the first month of demonetization, reports The Hindu Business Line.
At 12.02 pm, the 30-share BSE index Sensex was up 85.08 points or 0.32 per cent at 26,680.53 and the 50-share NSE index Nifty was up 27.65 points or 0.34 per cent at 8,207.15.
Among BSE sectoral indices, consumer durables index gained the most by 3.14 per cent, oil & gas 1.92 per cent, PSU 1.49per cent and power 1.04 per cent.
On the other hand, IT index was down 0.57 per cent, TECk 0.5 per cent and auto 0.06
Top five Sensex gainers were Power Grid (+2.45%), Axis Bank (+1.86%), ITC (+1.41%), Coal India (+1.1%) and ICICI Bank (+0.95%), while the major losers were Infosys (-1.39%), Hero MotoCorp (-0.85%), Tata Steel (-0.67%), Bharti Airtel (-0.64%) and Lupin (-0.54%).
Global markets marched confidently into 2017 on Tuesday, with Asian stocks extending gains after European shares surged to their highest in a year, while the dollar resumed its climb after last week’s stumble.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent as most regional markets reopened after the New Year holiday.
It ended 2016 with a 3.7 per cent gain, its best year in four.