Sensex up 71 points as September F&O opens strong

The benchmark BSE Sensex gained over

71 points to 31,801.80 in early trade today on continued

buying by domestic institutional investors despite weak

economic growth data for the June quarter.

Brokers said investors were seen creating new positions

following the beginning of the September futures and options

(F&O) series which lifted the key indices.

Besides, a firm trend overseas too influenced sentiment.

The 30-share index was up by 71.31 points, or 0.22 per

cent, to 31,801.80 with the sectoral indices led by

healthcare, realty, metal and auto posting gains.

The NSE Nifty advanced by 20.10 points or 0.20 per cent

to 9,938.10.

Data showing that foreign institutional investors (FIIs)

which had been net sellers on the Indian markets, bought

shares worth Rs 77.58 crore in yesterday's trade too

influenced sentiments.

Major gainers in early trade included Dr Reddy's,

SunPharma, Lupin, Reliance Industries, Tata Steel, Kotak Bank

and SBI, rising by up to 7.66 per cent.

Stocks of auto makers such as Maruti Suzuki, Tata Motors,

and Bajaj Auto were in better form and rose up to 1.66 per

cent ahead of August month's sales numbers, to be released

later in the day.

India's GDP growth slumped to a three-year low of 5.7 per

cent during April-June -- lagging China for the second

straight quarter -- as manufacturing slowed ahead of the GST

launch amid demonetisation effect.

Among other Asian markets, Japan's Nikkei was up 0.20 per

cent, Hong Kong's Hang Seng gained 0.31 per cent, while

Shanghai Composite index rose 0.39 per cent in early trade.

The US Dow Jones Industrial Average ended 0.25 per cent

higher in yesterday's trade.

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