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
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
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.)