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Sensex starts off with strong trade over positive global cues

Prominent gainers included Bharti Airtel, Axis Bank, SBI, Wipro among others.

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Benchmark BSE Sensex advanced by 195 points in early session today on continuous buying by domestic institutional investors amid strong global leads. 

The NSE Nifty also went past the 10,300-mark. The 30-share Sensex was trading higher by 194.68 points, or 0.58 per cent, at 33,444.98, with realty, oil and gas, PSU, metal, banking and auto stocks staying in good shape. 

The gauge had gained 653.12 points in the previous two sessions. The broader Nifty was up 46.15 points, or 0.44 per cent, at 10,311.80. Domestic institutional investors (DIIs) bought shares worth Rs 1,243 crore on Friday, as per provisional data.

A firming trend in Asia as investors cheered more records on Wall Street and strong US jobs data influenced sentiment here, brokers said. Optimistic buying by participants ahead of industrial production and inflation numbers to be released later this week too supported the rally. 

Prominent gainers included Bharti Airtel, Axis Bank, SBI, Wipro, ITC Ltd, Tata Steel, Maruti Suzuki, HDFC Ltd, Lupin, Tata Motors, Coal India and Sun Pharma, rising up to 1.73 per cent. 

Japan's Nikkei gained 0.04 per cent and Shanghai Composite rose 0.40 per cent in early trading today while Hong Kong's Hang Seng was up 0.51 per cent. The US Dow Jones Industrial Average ended 0.49 per cent higher on Friday.

Meanwhile, the rupee was up 6 paise at 64.39 against the dollar in opening trade today, helped by stronger domestic equities.

Apart from selling of the American currency by exporters, forex dealers said the dollar's weakness against other currencies overseas kept the rupee higher.

On Friday, the rupee had gained 12 paise to end at 64.45 on fresh selling of the American currency amid unwinding of long dollar bets ahead of release of key US macro data.

 

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