Sensex extends gains, climbs 181 pts on global cues
The BSE Sensex advanced about 181 points in early session today, maintaining its positive form for the second straight day on unabated buying by domestic institutional investors amid positive leads from Asian markets following overnight gains on the Wall Street. The 30-share Sensex, which had gained 292.76 points in the previous session, rose another 180.73 points, or 0.51 per cent, to 35,388.87. The NSE Nifty also traded above the 10,750 mark by gaining 43.05 points, or 0.40 per cent, to 10,758.55. Overseas, Asian markets were trading higher following firm leads from Wall Street overnight.
Oil prices retreated from three-and-a-half-year highs as investors waited on an announcement by President Donald Trump on whether the US will reimpose sanctions on Iran. Sectoral indices, led by bank, healthcare, consumer durables, power, FMCG, capital goods and PSU, were in the positive zone, rising by up to 0.88 per cent. ICICI Bank topped the gainers list by surging 6.89 per cent even as the private sector lender yesterday posted a 45 per cent plunge in Q4 profit at Rs 1,142 crore due to a spike in bad loans. Other gainers were Yes Bank, Axis Bank, ITC, ONGC, Dr Reddy’s, Coal India, Sun Pharma, RIL, Adani Port, SBI, Bharti Airtel, Asian Paints and Power Grid, rising up to 1.73 per cent.
Brokers said continued buying by domestic institutional investors and a firming trend in Asia accelerated buying activity. Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 1,037.23 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 635.24 crore yesterday, provisional data showed. Japan’s Nikkei quoted 0.31 per cent higher while Hong Kong’s Hang Seng gained 1.26 per cent in their early deals. China’s Shanghai Composite Index also edged higher by 0.59 per cent. The US market ended 0.39 per cent higher yesterday.