Sensex, Nifty end near two-month high
(Reuters) - The Sensex and Nifty ended higher on Thursday, led by financial and automobile stocks as sentiment was bolstered by gains in regional markets, following upbeat global economic data and an overnight bounce in oil prices.
The Sensex closed up 0.92 percent at 26,878.24, after touching its highest level since Nov. 11.
The Nifty ended up 1.02 percent at 8,273.8, after hitting its highest level since Nov. 15.
Sensex takes comfort from Asian indices, rallies 215 pts
The benchmark Sensex continued its advance by surging 215 points on across-the-board buying, buoyed by higher Asian indices.
Retail investors pressed ahead with value-buying as cash crunch following demonetisation started losing its bite.
The Sensex opened higher before trading at 26,847.75 at 1147 hours, up 214.62 points, or 0.81 per cent, from its last close.
The NSE 50-share Nifty also rose 66.55 points, or 0.81 per cent, at 8,257.05 at 1147 hours.
Major gainers were Adani Ports 3.34 per cent, Tata Motors 2.92 per cent, Tata Steel 2.69 per cent, ONGC 2.39 per cent, and Wipro 1.87 per cent.
Foreign funds net sold shares worth Rs 800.71 crore yesterday, as per provisional data.
Most Asian markets were trading higher, underpinned by a firm closing on the Wall Street. US stocks closed just shy of their record levels yesterday following release of the Federal Reserve's December policy meeting minutes and a strong showing in auto sales.
Gold futures rise 0.60% on positive global cues
Gold prices rose by 0.60 per cent to Rs 27,808 per 10 grams in futures trading today as speculators created fresh positions, taking positive cues from global markets.
At the Multi Commodity Exchange, gold for delivery in far-month April was up by Rs 166, or 0.60 per cent, to Rs 27,808 per 10 grams, in a business turnover of 50 lots.
Similarly, the metal for delivery in February went up by Rs 162, or 0.59 per cent, to Rs 27,844 per 10 grams in 551 lots.
Market analysts attributed the rise in gold prices at futures trade to a firm trend overseas where gold rose to its highest in four weeks as the US dollar retreated from a 14-year peak touched earlier this week.
Globally, gold rose 0.9 per cent to USD 1,173.51, the highest level in almost a month in Singapore.
Rupee makes more gains, up 16 paise against dollar
The rupee firmed up 16 paise to 67.89 against the dollar today after the US currency saw higher selling by exporters and banks amid a higher opening in the domestic stock market.
Forex dealers said weakness in the greenback against other currencies overseas gave the rupee some relief.
Further, a higher opening in the domestic equity market gave the uptrend some momentum, they added.
On Wednesday, the domestic unit ended higher by 28 paise at 68.05 following a fresh bout of dollar selling.
Meanwhile, the benchmark BSE Sensex rose 171.39 points, or 0.64 per cent, to 26,804.52, in early session today. (PTI)
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,190.50 points, was quoting at 8,232.20 points, up by 41.70 points or 0.51 per cent.
Weak domestic cues dragged the Indian equities markets lower on Wednesday.
Investors` sentiments were subdued on the back of weak domestic services data for December -- the Nikkei Services Purchasing Managers` Index (PMI) which stuck almost unchanged at 46.8, coupled with a lack of consensus at the GST Council meet.
The Sensex was down by 10.11 points or 0.04 per cent at the Wednesday`s closing. In the day`s trade, the barometer 30-scrip sensitive index had touched a high of 26,723.37 points and a low of 26,606.06 points. The Nifty, was marginally down by 1.75 points or 0.02 per cent.
On Thursday, Asian indices were showing a mixed trend after US stocks rallied on Wednesday digesting minutes from the Federal Reserve`s December meeting.
According to the minutes, policy makers agreed that information received over the intermeeting period indicated that the labour market had continued to strengthen and that economic activity had been expanding at a moderate pace since midyear.
Oil prices, too, rose on expectations of drops in US inventories.
On Thursday Japan`s Nikkei 225 was trading in red, down 0.25 per cent, Hang Seng up by 1.11 per cent while South Korea`s Kospi was also down by 0.15 per cent. China`s Shanghai Composite index was quoting in green, up by 0.08 per cent.
On a positive note, Nasdaq closed in green, up by 0.87 per cent and FTSE 100 was up by 0.16 per cent at the closing on Wednesday.