Home Business Sensex surges over 200 points in early trade; Nifty tests 10,350

Sensex surges over 200 points in early trade; Nifty tests 10,350


business news
Image Source : PTI

Sensex surges over 200 points in early trade

Equity benchmark Sensex surged over 200 points in early trade on Wednesday tracking gains in index-heavyweights Reliance Industries, HDFC and ITC amid positive cues from global markets. The 30-share index was trading 205.60 points, or 0.59 per cent, higher at 35,121.40, while the NSE Nifty rose 51.90 points, or 0.50 per cent, to 10,354.

ITC was the top gainer in the Sensex pack, surging around 2 per cent, followed by Axis Bank, HDFC, IndusInd Bank, Bajaj Finance, SBI and Reliance Industries.

On the other hand, NTPC, Kotak Bank, L&T, ONGC and Nestle India were among the laggards.

In the previous session, the BSE barometer closed 45.72 points, or 0.13 per cent, down at 34,915.80; while the NSE Nifty slipped 10.30 points, or 0.10 per cent, to 10,302.10.

Foreign institutional investors were net sellers on Tuesday, offloading equities worth Rs 2,000.08 crore, provisional exchange data showed.

According to traders, local indices followed gains in global benchmarks which rallied on positive macroeconomic numbers indicating a recovery in world economies.

Auto sales data will also be closely watched by the participants to access the pace of recovery in the domestic economy, they said.

Bourses in Shanghai, Hong Kong and Seoul were trading with significant gains, while those in Tokyo were in the red.

Stock exchanges on Wall Street rallied over 1 per cent in overnight session on positive macroeconomic data.

International oil benchmark Brent crude futures rose 1.14 per cent to USD 41.74 per barrel.

On the domestic front, India recorded a current account surplus of USD 0.6 billion or 0.1 per cent of GDP for the January-March quarter against a deficit of USD 4.6 billion or 0.7 per cent of GDP in the year-ago period, the Reserve Bank said on Tuesday.

Meanwhile, the fiscal deficit during the first two months of the current financial year widened to Rs 4.66 lakh crore or 58.6 per cent of the budget estimates mainly on account of poor tax collection due to coronavirus-induced lockdown. 

Latest Business News

Fight against Coronavirus: Full coverage





Source link

Leave a Reply

Most Popular

Uttar Pradesh: 23 killed in incidents of lightning strikes

Chief Minister Yogi Adityanath has expressed deep anguish over the loss of lives and directed respective district magistrates to extend ex-gratia of Rs 4...

Ronaldo scores from free kick, Buffon breaks record in Juve win | Football News

Cristiano Ronaldo celebrates scoring their third goal. (Reuters Photo)TURIN: Cristiano Ronaldo finally scored from a free kick for Juventus and goalkeeper...

Delhi: Coronavirus positivity rate goes down, recovery rate cross 70 percent

The coronavirus positivity rate in Delhi has declined to 10.58 percent after rising to nearly 37 percent, and the average number of cases has...

Heavy rains lash Delhi-NCR, weather department says thunderstorm likely to continue

Heavy rains lashed Delhi and several parts of NCR early Sunday morning. According to the Indian Meteorological Department, thunderstorm with heavy spell of...