Sensex surges over 200 pts, Nifty above 10,500

Mumbai: The BSE benchmark Sensex surged over 200 points in afternoon trade today amid buying in most sectors, reflecting positive investor sentiment on strong macroeconomic numbers released yesterday.

Buying was led by realty, healthcare, telecom, energy, banks, financials, basic materials, auto, IT, Teck and consumer durables sectors.

The successive growth in fourth straight months in the index of industrial production (IIP) at 7.1 per cent and moderation in consumer price index (CPI) inflation to 4.28 per cent, lifted the sentiment.

Investors are looking forward to Infosys’ earnings for the Q4 of FY18, scheduled to be released later in the day.

The 30-share index was trading higher at 34,304.38 at 1230Hrs, reflecting a gain of 203.25 points, or 0.60 per cent.

The broader Nifty50 index was also trading above 10,500-level at 10,515.45, up 56.80 points or 0.56 per cent.

Major gainers were Adani Ports, Kotak Bank, Dr Reddy, Bajaj Auto, ICICI Bank, NTPC and Infosys.

Asian markets were trading mixed. US stocks closed sharply higher yesterday, as geopolitical concerns appeared to fade after President Donald Trump tweeted that a military strike on Syria may not be imminent.

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Free Press Journal