Markets

Markets Live: Sensex jumps over 100 points, Nifty above 9,900, Infosys rises 3%

BSE Sensex and NSE Nifty traded higher. Photo: AFP

Mumbai: The benchmark NSE Nifty reclaimed the 9,900-level and BSE Sensex climbed in early trade on Thursday on widespread gains following sustained buying by domestic institutional investors. The NSE Nifty also surged. The 30-share Sensex had gained 557.30 points in the previous two sessions.

Meanwhile, DIIs bought shares worth Rs1,336.91 crore, while Foreign portfolio investors (FPIs) sold shares to the tune of Rs1,090.10 crore Wednesday, as per the provisional data. Sectoral indices, led by metal, IT, realty, teck, consumer durables and oil & gas were trading in the positive zone, with gains up to 1.62%. Major gainers that supported the rally were Infosys, Reliance Industries, Bharti Airtel, Dr Reddy’s, Adani Ports, Tata Steel, Coal India, ICICI Bank, NTPC and Lupin, gaining up to 3.27%. Brokers said sentiment was largely bolstered on sustained capital inflows by domestic financial institutions as well as retail investors.

Besides, a mixed trend at other Asian markets following a positive lead from Wall Street after the US Federal Reserve policymakers hinted at a slower pace of future interest rate hikes in minutes of their July meeting boosted sentiment, they said. Hong Kong’s Hang Seng moved up by 0.14%, while Shanghai Composite Index rose 0.32% in early trade today. Japan’s Nikkei was, however, slightly down. The US Dow Jones Industrial Average ended 0.12% higher in yesterday’s trade. Here are the latest updates

10.55am: BSE Sensex trades higher by 107 points, or 0.34%, to 31,878, while the Nifty 50 rises 40 points, or 0.40%, to 9,937.

10.45am: Metal stocks gains amid better-than-expected demand in China and a weakening dollar. Zinc surgedabove $3,000 a metric ton for the first time in almost a decade, while aluminum approached a three-year high.

10.30am: Vedanta Ltd rose 3.1%, NMDC Ltd 2.7%, Hindustan Zinc 2.3%, National Aluminum Co Ltd 1.9%, Hindalco Industries Ltd 1.3%, Steel Authority Of India 1%,

10.15am: Cigarette stocks jumps. VST Industries Ltd jumped 5.4%, Godfrey Phillips India jumped 8%, ITC Ltd rose 1.1%

10.00am: Surya Roshni Ltd rose 6.4% to Rs273.80 after ET reported that the company mulling splitting its LED lighting operations into separate entity.

9.50am: BEML Ltd rose 8% to Rs1,853.95. To accelerate strategic disinvestments in central public sector enterprises (CPSEs), the cabinet committee on economic affairs (CCEA) mandated a panel headed by finance minister Arun Jaitley to oversee the asset sale process, Mint reported. The panel—a so-called alternative mechanism approved by the CCEA at a meeting on Wednesday—may also help the government raise more revenue from asset sales.

9.40am: Coal India Ltd rose 2.4% to Rs242.65 after a huge block deal. Around 3.5 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of the buyers and sellers were not known.

9.30am: BSE Sensex trades higher by 69 points, or 0.22%, to 31,840, while the Nifty 50 rises 26 points, or 0.26%, to 9,923.

9.20am: Suprajit Engineering Ltd rose 5% to Rs291.24, while Phoenix Lamps Ltd rose 7% to Rs215.65.

9.15am: Biocon Ltd fell 2.4% to Rs320.95. The stock has fallen for second sessions on news that it has moved to withdraw (and later resubmit) its European filings for two biosimilar products, trastuzumab and pegfilgrastim.

9.10am: SREI Infrastructure Finance Ltd rose 5.3% to Rs126 ahead of its press conference after noon.

9.05am: Infosys Ltd rose 3% to Rs1,002.75 after the company said its board will meet to consider buyback of shares on 19 August.

With inputs from PTI

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