Sensex advances 162 pts as Sep F&O starts strong

The benchmark Sensex rose by 162

points to end at three-week high of 31,892.23 on buying in

auto, pharma and energy stocks despite a weak economic growth

data for June quarter.

The 30-share index stayed in the positive zone throughout

the session and hit a high of 31,944.10 before winding up

161.74 points, or 0.51 per cent, at 31,892.23, a level last

seen on August 8.

Also, the NSE Nifty ended 56.50 points, or 0.57 per cent

higher at 9,974.40 after shuttling between 9,983.45 and

9,909.85 during the day.

This week, the Sensex rose by 296.17 points, or 0.93 per

cent and the Nifty by 117.35 points, or 1.19 per cent --

recording their eighth weekly gain in nine.

Among the Sensex constituents, Dr Reddy's topped the

gainers list by climbing 9.75 per cent to Rs 2,217.35 after

Nasdaq-listed Vivus Inc yesterday entered into a

settlement agreement with the pharma major to resolve a long-

pending patent litigation related to weight management

capsules Qsymia.

Auto stocks, led by Ashok Leyland, Maruti Suzuki, Tata

Motors, Hero MotoCorp, Bajaj Auto, TVS Motors, Eicher Motor

and M&M rose up to 5.42 per cent largely on the back of

better-than-expected monthly sales figures for August.

Sentment got a boost on renewed hopes that the RBI policy

may announce a cut in rates at its next policy meet in

Otober to perk up growth, which fell to three-year low of 5.7

per cent during April-June, brokers said.

Creating new positions by investors following the

beginning of the September futures and options (F&O) series

lifted the key indices, they added.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)