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Sensex rises 198 points, Nifty reclaims 9,900 level

The Sensex rose 198 points and the Nifty recaptured the 9,900 mark in the opening trade today after buying in realty, oil and gas and banking stocks took a high speed up.

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Sensex rises 198 points, Nifty reclaims 9,900 level
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The Sensex rose 198 points and the Nifty recaptured the 9,900 mark in the opening trade today after buying in realty, oil and gas and banking stocks took a high speed up.

The BSE 30-share barometer went up 197.70 points, or 0.62 per cent, to 31,797.46. The gauge had lost 824 points in the previous six sessions, in line with a general weakness across the globe fuelled by escalating worries related to North Korea. 

Sectoral indices led by realty, oil and gas, consumer durables, auto and banking were in the green, adding up to 1.65 per cent.

The NSE Nifty was also higher by 49.55 points, or 0.50 per cent, to trade at 9,921.05. Traders said gains at most other Asian markets despite rising US-North Korea tensions had a bearing here. Besides, continuous pumping in of funds by domestic institutional investors (DIIs) supported the market.

Maruti Suzuki surged the most among Sensex components, gaining 0.85 per cent, followed by PowerGrid (0.71 per cent). Other gainers included Hero MotoCorp, Bajaj Auto, TCS, HDFC Bank and M&M, rising by up to 0.64 per cent. 

However, telecom sectors were trading under pressure. 

Meanwhile, the rupee trended higher by 10 paise to 65.35 against the dollar in the beginning today, reflecting a strong start in stock markets.

Fresh selling of the US dollar by banks and exporters brought some life back in the local currency.

Stocks were full of promise as they opened on a firm note, which made the rupee gain ground, traders said.

But the US dollar's strength, mainly an outcome of the US Fed's recent decision to shrink its balance sheet, kept the rupee in check. An indication of gradual rate hike from the central bank tempered mood, too.

(With inputs from PTI)

 

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