Mumbai : The BSE benchmark Sensex rose over 100 points
Wednesday led by gains in banking stocks amid continued buying by foreign
investors. The 30-share index was trading 134.95 points, or 0.36 per cent,
higher at 37,670.61, while the 50-share NSE Nifty climbed 22.10 points, or 0.20
per cent, to 11,323.30.
In the previous session, the BSE gauge settled
481.56 points, or 1.30 per cent, higher at 37,535.66. The broader Nifty closed
with gains of 133.15 points, or 1.19 per cent, at 11,301.20. Top gainers in
early trade include HCL Tech, IndusInd Bank, HDFC Bank, HUL, Axis Bank, Bajaj
Auto, RIL, SBI and Infosys, rising up to 2.58 per cent.
While, ONGC, NTPC, Coal India, Vedanta and Bharti
Airtel fell up to 2.17 per were trading in the red. Domestic equities extended
their gains for the third session, driven by positive factors like sustained
foreign fund inflows, stronger rupee and chances of the incumbent NDA
government coming for a second term, experts said.
On a net basis, foreign institutional investors
(FIIs) bought shares worth a net of Rs 2,477.72 crore on Tuesday, while
domestic institutional investors (DIIs) were net sellers to the tune of Rs
990.48 crore, provisional data available with BSE showed. However, investors
turned cautious, capping gains on bourses, after retail inflation jumped to a
four-month high of 2.57 per cent in February, and industrial growth slipped to
1.7 per cent on account of manufacturing sector slowdown, traders said.
According to the data released by the Central
Statistics Office (CSO), the Index of Industrial Production (IIP) expanded by
just 1.7 per cent in January, significantly down from 7.5 per cent growth in
the year-ago month. Elsewhere in Asia, Hong Kong's Hang Seng fell 0.59 per
cent, Shanghai Composite Index slipped 0.37 per cent, Kospi shed 0.88 per cent,
and Japan's Nikkei cracked 1.35 per cent in early trade.
On Wall Street, Dow Jones Industrial Average ended
0.38 per cent lower on Tuesday. The rupee, meanwhile, depreciated marginally
against US dollar to 69.76. The benchmark Brent crude futures rose 0.24 per
cent to USD 66.83 per barrel.
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