Mumbai: Stocks were on the upswing today as the key Sensex rose 112 points on the back of institutional buying, with an appreciating rupee keeping mood upbeat. Positive leads from Asia and another record closing on Wall Street set the stage for the day, market watchers said. The 30-share index spurted by 111.64 points, or 0.33 percent, at 33,589.99.
All sectoral indices led by consumer durables and infrastructure turned green by up to 0.82 percent. The barometer had scooped up 717.91 points in the previous four sessions. The NSE Nifty hit 10,364.05, up 37.15 points, or 0.35per cent. The rupee was trading higher by 14 paise at 64.75 against the American currency in early deals today. There was continued buying by domestic institutional investors as well as retailers, traders said.
A firming trend at other Asian markets, taking overnight cues from Wall Street where stocks rose to record highs, too accelerated buying activity here. Prominent gainers include Adani Ports, M&M, Bajaj Auto, HDFC Ltd and Asian Paints, gaining up to 2.11 percent. Hong Kong’s Hang Seng was up 1.05 percent while ShanghaiComposite rose 0.71 percent. Japan’s Nikkei too went up 0.78per cent. The Dow Jones Industrial Average in the US ended 0.69 percent higher yesterday.
