STOCK MARKET BSE NSE

Sensex jumps 200 points in early trade; Nifty tests 14,750

The 30-share BSE index was trading 199.01 points or 0.40 per cent higher at 49,400.40, and the broader NSE Nifty advanced 68.90 points or 0.47 per cent to 14,752.40.

Published: 07th April 2021 10:20 AM  |   Last Updated: 07th April 2021 10:20 AM   |  A+A-

Sensex

For representational purpose.

By PTI

MUMBAI: Equity benchmark Sensex jumped nearly 200 points in early trade on Wednesday, tracking gains in index heavyweights Reliance Industries, Bharti Airtel and SBI ahead of the Reserve Bank of India's monetary policy outcome.

The 30-share BSE index was trading 199.01 points or 0.40 per cent higher at 49,400.40, and the broader NSE Nifty advanced 68.90 points or 0.47 per cent to 14,752.40.

Reliance Industries was the top gainer in the Sensex pack, rising over 2 per cent, followed by Bharti Airtel, PowerGrid, UltraTech Cement, Dr Reddy's, IndusInd Bank and ONGC.

On the other hand, TCS, Tech Mahindra, Kotak Bank and HDFC twins were among the laggards. In the previous session, Sensex settled 42.07 points or 0.09 per cent higher at 49,201.39, and Nifty advanced 45.70 points or 0.31 per cent to 14,683.50.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,092.75 crore on Tuesday, as per exchange data.

According to traders, domestic investors are awaiting the outcome of the RBI's policy meet later in the day.

"These days there is a combination of good and bad news exerting push and pull effects on markets,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The steady decline in US 10-year bond yield to 1.66 per cent from above 1.75 per cent and dollar index to 2.3 from above 93 are clear positives. And now the IMF has projected GDP growth of 12.5 per cent for FY22 for India.

FDI is rising smartly, he noted. But these positives are being countered by the big negative -- rising COVID-19 cases in the country, he added.

Elsewhere in Asia, bourses in Shanghai and Hong Kong were trading on a negative note in mid-session deals, while Seoul and Tokyo were in the positive terrain.

Stock exchanges on Wall Street too ended in the red in overnight trade. Meanwhile, the global oil benchmark Brent crude was trading 0.33 per cent higher at USD 62.95 per barrel.



Comments

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 newindianexpress.com 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 newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com 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. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp