Monday 18 October 2021
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HomeEconomySensex logs 5th straight gains; soars 307 points

Sensex logs 5th straight gains; soars 307 points

Similar to Sensex, NSE Nifty ended at 10,888, a gain of 0.77%; the Indian rupee was trading 37 paise higher at 71.53 against the US dollar


Mumbai: Equity benchmark Sensex continued its winning streak for a fifth straight session Monday, surging over 307 points with gains mainly in auto, metal and financial stocks as investors maintained their bullish stance in view of strengthening rupee, narrowing trade deficit and sustained foreign fund inflows.

Besides, market participants took cues from stronger Asian markets.

The 30-share Sensex closed at 36,270, showing a rise of 0.85% or 307 points. In the intra-day trade, the gauge hit a high of 36,312.

The Sensex had climbed 1,003.21 points in the previous four sessions.

Similarly, the broader NSE Nifty ended at 10,888, a gain of 0.77% or 83 points, after shuttling between 10,900.35 and 10,844.85.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 861.94 crore Friday, while DIIs sold equities to the tune of Rs 303.52 crore, provisional data showed.

The Indian rupee was trading 37 paise higher at 71.53 against the US dollar, tracking positive domestic macro-economic data.

India’s trade deficit stood at USD 15.1 billion for November 2017 as against USD 17.13 billion in the previous month.

Analysts attributed the market performance to stabilisation of crude and rupee and also highlighted improved domestic macros’ importance in providing a positive momentum to the market. Among Sensex constituents, Tata Motors emerged as the best performer by surging 4.10%, followed by PowerGrid at 3.77%.

Vedanta Ltd shares climbed as much as 2.21% after the NGT set aside the Tamil Nadu government order for closure of the company’s copper plant at Tuticorin, saying it was “non sustainable” and “unjustified”.

Other index gainers include HDFC (2.89%), Wipro (2.01%), Tata Steel (1.88%), Coal India (1.88%), HDFC Bank (1.75%), IndusInd Bank (1.71%), RIL (1.70%), ICICI Bank (1.68%), NTPC (1.67%), ITC Ltd (1.61%), ONGC (0.95%), Maruti Suzuki (0.71%) and Bajaj Auto (0.55%).

Adani Ports, Yes Bank, M&M, TCS and Sun Pharma too were in fine shape and rose up to 0.50%.

Bucking the overall trend, Kotak Bank, Infosys, Bharti Airtel, Hero MotoCorp, HUL, Asian Paint, Axis bank, L&T and fell up to 2.50%.

Sectorally, the metal index moved up 2.03%, followed by energy index 1.54%, oil and gas 1.34%, power 1.31%, infrastrcuture 1.14%, PSU 1.13%, FMCG 0.93% and bankex 0.56%.

However, capital goods, durables, realty and teck indices ended lower by up to 0.27%.

Overseas, Asian markets ended higher with Japan’s Nikkei rising 0.62%, followed by Shanghai Composite Index 0.16%, Hong Kong’s Hang Seng 0.02%, Taiwan index 0.14% and Korea KOSPI 0.08%.

However, European shares were lower in late morning deals. Paris CAC 40 fell 0.40%, Frankfurt DAX was down 0.03% and London’s FTSE dropped 0.18%.

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