Sensex up 34 points in opening trade on sustained fund inflows

MUMBAI: The benchmark BSE Sensex gained over 34 points in opening trade on Wednesday on buying in oil, banking and IT stocks amid sustained foreign fund inflows. 

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The 30-share index was trading higher by 34.16 points or 0.12 per cent at 26,967.04 points in early trade. 

The barometer had rallied 1,316.04 points in the previous five sessions. Among major gainers, ONGC rose by 2.6 per cent, Gail by nearly 2 per cent, and Vedanta Ltd by 1.5 per cent. SBI, Infosys, HDFC and Maruti rose up to 1.3 per cent. 

Also, the National Stock Exchange index Nifty edged higher by 5 points, or 0.06 per cent at 8,157.90. 

Sentiment also got a boost from Prime Minister Narendra Modi's statement that the Goods and Services Tax (GST) will be rolled out from next year, brokers said. 

Among other Asian markets, Hong Kong's Hang Seng was up by 0.88 per cent, while Japan's Nikkei shed 0.17 per cent in early trade on Wednesday. 

The US Dow Jones Industrial Average ended 0.08 per cent higher in Tuesday's trade. 

Source - TOI

Sensex zooms 266 pts, Nifty above 8,000 on capital inflows

MUMBAI: The benchmark BSE Sensex climbed over 266 points and the NSE Nifty regained 8,000-mark in early trade on Thursday on buying in IT, pharma and banking stocks amid a firming trend overseas. 

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The 30-share index surged by 266.02 points, or 1.02 per cent, to 26,420.85 points in early trade. 

The gauge had gained 537.99 points in previous two straight sessions after RBI announced bigger-than-expected rate cut of 0.50 per cent to 6.75 per cent and announced other aggressive measures in its monetary policy review on Tuesday. 
All the sectoral indices, led by healthcare, FMCG and banking were trading in the positive zone with gains up to 1.11 per cent. 

The National Stock Exchange's index Nifty regained the 8,000-mark by surging 54.85 points, or 0.69 per cent to, 8,003.75. 

Brokers said sentiments turned bullish after RBI Governor Raghuram Rajan sprang a surprise by announcing a biggest-than-expected interst rate cut of 0.50 per cdent to 6.75, lowest in four-and-half-years to boost country's economic growth. 

Besides, a firming trend at other Asian markets following overnight gains on the Wall Street as investors bought recent beaten-down stocks boosted sentiments, they said. 

Japan's Nikkei moved up by 1.74 per cent in early trade Thursday, while financial markets in Hong Kong and China are closed on Thursday for a public holiday. 

The US Dow Jones Industrial Average ended 1.47 per cent higher in Wednesday's trade.

Source - TOI