The benchmark BSE Sensex reclaimed the 35,000-mark by surging over 150 points in early trade today on easing geopolitical concerns...
The benchmark BSE Sensex reclaimed the 35,000-mark by surging over 150 points in early trade today on easing geopolitical concerns and a sharp correction in global crude prices. An appreciating rupee, encouraging earnings by some more companies and easing concerns over US-North Korea summit too boosted investor sentiment. The 30-share index, which had gained 579.96 points in the previous two sessions, added 156.67 points, or 0.44 percent, at 35,081.54.
US-North Korea summit
The rupee strengthened by 39 paise to 67.39 against the dollar at the interbank forex market in early trade today. Counters such as oil and gas, PSU, healthcare, realty, infrastructure, metal, and banking were trading in the positive territory. The NSE Nifty too edged up by 53.70 points, or 0.50 percent, to 10,658.85. Sun Pharma shares rose 4.66 percent to Rs 488.30 after the drug maker on Friday posted 6.96 percent increase in its consolidated net profit at Rs 1,308.96 crore for the fourth quarter ended March 2018.
NSE Nifty edged up by 53.70 points
Other major gainers that supported the indices were Yes Bank, SBI, Tata Steel, Axis Bank, Coal India, ONGC, NTPC, Maruti Suzuki, Asian Paint, HDFC Bank, Bharti Airtel, Dr Reddy's, Bajaj Auto and ITC, rising by up to 1.59 percent. Traders said the building of fresh long positions amid continued buying by domestic institutional investors (DIIs) and Brent crude falling by 1.88 per cent to USD 75 per barrel in global markets, kept the bullish sentiment intact.
Shanghai Composite Index rose 0.18 percent
Meanwhile, on Friday, DIIs bought shares worth a net of Rs 887.76 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 768.29 crore, provisional data showed. Among other Asian markets, Hong Kong's Hang Seng was up 0.47 per cent, Japan's Nikkei up 0.15 per cent in early trade today. Shanghai Composite Index rose 0.18 percent The US Dow Jones Industrial Average ended 0.24 per cent lower in Friday's trade.
