Business & Finance

Sensex rises over 150 points, Nifty hits 10,900 mark

Mumbai | The benchmark BSE Sensex gained over 150 points and the NSE Nifty began the December derivatives series by hitting the 10,900 mark in early trade Friday on positive cues from other Asian bourses ahead of the two-day G20 Summit.

Rupee’s rally to a three-month high also supported the upmove in the domestic stock market. The domestic unit gained 21 paise to 69.64 against the US dollar. The 30-share index rose 175.75 points, or 0.49 per cent, to trade at 36,346.16.

In similar movement, the NSE Nifty breached the 10,900 mark, and was trading 50.45 points, or 0.46 per cent, higher at 10,909.15. “Markets have been on a uptrend in November, with Nifty gaining 7-8 per cent from 10,100 levels. This is its highest gain in a month,” said Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services.

Rupee appreciation and crude oil prices provided a good support to the market, he added. Pharma, banking, realty and IT stocks were the biggest gainers on bourses in early session. Brent crude, the international benchmark, was trading 0.42 per cent up at USD 59.76 per barrel. Top gainers include Yes Bank, Wipro, M&M, ONGC, Infosys, SBI, Mauti, HUL, TCS, Bharti Airtel, PowerGrid and Sun Pharma, rising up to 5 per cent. While, Tata Motors, Adani Ports, Vedanta, NTPC, Coal India, HDFC Bank, Tata Steel, IndusInd Bank, L&T and Kotak Bank were among the top losers, falling up to 3 per cent.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 823.47 crore Thursday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 973.31 crore, provisional data available with BSE showed.

Overseas, Hong Kong’s Hang Seng was up 0.68 per cent, Japan’s Nikkei gained 0.23 per cent and Shanghai Composite Index edged higher by 0.23 per cent in early trade. On Wall Street, the Dow Jones Industrial Average fell 0.11 per cent, to 25,338.84, on Thursday.

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