Sensex rallies over 300 pts, Nifty regains 9900 level
The benchmark BSE Sensex surged by
over 300 points and NSE Nifty regained the 9,900 level in
afternoon trade today on bargain hunting following yesterday's
steep losses fuelled by North Korea's missile launch over
Across the board buying in metal, oil&Gas, energy,
realty, industrials, financials, auto, capital goods, consumer
durables and banks helped indices to recover most of the
Hectic shortcovering ahead of August derivative expiry
tomorrow amid positive trend in Asian markets as North Korean
concerns diminished supported the sentiment.
The 30-share Sensex opened gap-up at 31,534.57. Later it
surged to 31,701.67, a gain of of 313.28 points or 1.00 per
cent as HDFC, RIL, HDFC Bank, L&T and ICICI Bank recovered
from yesterday's heavy losses.
The 50-share Nifty regained the 9,900 level, surging by
104.30 points or 1.06 per cent to 9,900.35 at 1210 hrs.
Major gainers were HDFC 1.68 pct, Reliance 1.68 pct,
Adani Ports 1.49 pct, HeroMotoco 1.32 pct, Dr Reddy 1.14 pct
and Tata Motors 1.09 pct.
Foreign portfolio investors (FPIs) sold shares worth Rs
1,459.64 crore on net basis yesterday, showed provisional
data. Domestic institutional investors (DIIs) bought shares
worth Rs 1,391.33 crore.
Most Asian markets gained after US President Donald
Trump's measured response to North Korean missile launches and
comments from Kim Jong Un suggested geopolitical tensions will
North Korea's latest missile launch jolted the US stock
market yesterday but major indexes pulled back from those
early losses and mostly finished higher as the weakening
dollar gave technology and industrial companies a boost.
-- Rupee up 7 paise vs US dollar at 63.95 --
The rupee was trading up by 7 paise to 63.95 per dollar
in late morning session today on sustained bouts of dollar
selling from banks and exporters amid higher local equities.
The rupee resumed higher at 63.97 per dollar at the
interbank foreign exchange (Forex) against yesterday's closing
level of Rs 64.02 per dollar.
Later, the domestic unit hovered between 63.98 and 63.93
during morning deals. It was quoting at 63.95 at 1040 hrs.
Overseas, the US dollar recovered from lows against
major rivals in early Asian trade, while pulling away from the
previous session s 4-1/2 month lows against the yen as
investors concerns over North Korea s latest missile test
eased for now.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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