Sensex, Nifty end higher; banks and oil firms gain

The broader NSE Nifty closed 0.79 percent higher at 10,688.65 while the benchmark BSE Sensex rose 0.69 percent to 35,165.48.

Published: 28th May 2018 04:18 PM  |   Last Updated: 28th May 2018 04:40 PM   |  A+A-


A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai. (File | Reuters)


MUMBAI: Stock market continued its winning run for a third straight session, with the BSE Sensex soaring about 241 points to close above the 35,000-mark as sentiments improved after a sharp correction in global crude prices and a continuous recovery in the rupee.

Also, the broader NSE Nifty gained some 84 points after breaching the psychological 10,700-level.

Traders said widening of positions by retail investors amid continued buying by domestic institutional investors (DIIs) kept the bullish sentiment intact.

In yet another positive sign, prices of Brent crude -- an international benchmark for crude oil -- fell further by 1.88 per cent to USD 75 per barrel in global markets.

Further lifting investors' mood, the rupee today strengthened by 49 paise to 67.29 (intra-day) against the dollar at the interbank forex market today.

In the Asian markets too, a firming trend was seen today as geopolitical worries eased after the US and North Korean officials met to resume preparations for a summit between the leaders of the two countries.

On Friday, Brent sank 3 per cent and WTI fell 4 per cent, and in early Asia business they were both down a further 2 per cent.

Meanwhile, DIIs bought shares worth a net of Rs 887.76 crore on Friday, while foreign portfolio investors (FPIs) sold shares worth a net Rs 768.29 crore, provisional data showed.

The gains on domestic bourses were led by oil and gas, PSU, healthcare and capital goods stocks as investors indulged in widening their exposure ahead of earnings from few more companies.

Driven by capital goods, oil and gas, PSU and healthare, the flagship Sensex reclaimed the 35,000-mark at the outset to hit a high of 35,240.96 before settling at 35,165.48, up 240.61 points, or 0.69 per cent.

It also touched a low of 35,006.50 The gauge had climbed 579.96 points in the previous two days.

For the 50-share NSE Nifty, the closing came in at 10,688.65, higher by 83.50 points, or 0.79 per cent, after hovering between 10,709.80 and 10,640.55.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp