Sensex Rises Over 100 Points, Nifty Trades Over 17,500

Sensex and Nifty started at a higher level today.

New Delhi:

The benchmark Indian equities traded higher in the opening of trading on Thursday amid a sharp drop in crude oil rates. Asian stocks declined following Wall Street’s fall overnight, while oil fell sharply as the United States took into account a massive draw from its reserves to curb a spike in fuel prices. Brent crude futures fell 4.4 percent to $ 108.50 a barrel and U.S. crude futures fell more than 5 percent to $ 101.76 a barrel.

The trend on Nifty Futures on the Singapore Exchange (SGX Nifty) also shows a starting gap for the domestic index.

30 shares of BSE Sensex rose 105 points or 0.18 percent to 58,789 in early trade, while the broader NSE Nifty rose 32 points or 0.18 percent to 17,530.

Medium and small -cap stocks traded on a positive note as the Nifty Midcap 100 rose 0.34 and small -cap stocks jumped 0.68 percent.

14 of the 15 sector gauges – compiled by the National Stock Exchange – are traded in green. Nifty Auto and Nifty FMCG outperformed the index by rising 0.51 per cent and 0.53 per cent, respectively. Nifty PSU Bank, however, edged 0.07 1.66 percent lower.

In terms of specific stocks, Asian Paints was the top gainer when the stock jumped 1.40 per cent to Rs 3,124.80. JSW Steel, M&M, Tata Consumer Products and Hero MotoCorp are also among the winners.

The overall market size stood strong as 1,615 stocks rose while 579 declined on the BSE.

On the BSE 30 -stock index, M&M, Asian Paints, ITC, HDFC, Bajaj Finance, Axis Bank and Tata Steel were among the top gainers.

On the other hand, Infosys, Bajaj Finserv, PowerGrid, Reliance Industries, L&T, Maruti, HDFC Bank traded in the red.

The Sensex has zoomed 740 points or 1.28 percent to close at 58,684 on Wednesday, while the Nifty has risen 173 points or 1 percent higher to close at 17,498.


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