SENSEX RECLAIMS 40K MARK IN EARLY TRADE, NIFTY ABOVE 12K
Mumbai: The benchmark BSE Sensex reclaimed the
40,000 mark, rallying nearly 300 points in early trade Friday led by gains in
banking and IT stocks amid positive domestic cues and strong foreign fund
inflow.
After hitting a high of 40,119.81, the 30-share index was
trading 271.12 points, or 0.68 per cent, higher at 40,103.09.
In similar movement, the broader NSE Nifty crossed the 12,000
level, and was trading 81.20 points, or 0.68 per cent, higher at 12,027.10.
In the previous session on Thursday, the 30-share gauge ended
329.92 points, or 0.84 per cent, higher at 39,831.97 — its fresh-closing high,
while the broader NSE Nifty settled at a new closing peak of 11,945.90, gaining
84.80 points or 0.71 per cent.
Top gainers in the Sensex pack include Asian Paints, Coal
India, TCS, ONGC, HCL Tech, L&T, Axis Bank, SBI and IndusInd Bank, rising
up to 3 per cent.
On the other hand, Yes Bank, Tata Motors, NTPC, Vedanta,
M&M and RIL were the top losers, shedding up to 0.32 per cent.
“Indian markets seem to be defying gravity as they
continue to rally. The positive sentiments are driven by investors conviction
in current government’s ability to drive strong growth,” said Sunil
Sharma, Chief Investment Officer, Sanctum Wealth Management.
The Indian market has significantly outperformed its emerging
market peers in anticipation of positive election outcome and strong foreign
flows and further moves are likely to be determined by policy initiatives,
budget and RBI monetary policy, he added.
Investors are also awaiting March quarter GDP data, scheduled
for release later in the day, traders said.
Meanwhile, foreign institutional investors (FIIs) bought
equities worth Rs 1,664.74 crore on Thursday, while domestic institutional
investors (DIIs) sold shares to the tune of Rs 1,122.60 crore, provisional data
available with stock exchanges showed.
Elsewhere in Asia, bourses in China, Japan and Korea were
trading on a mixed note in their respective early sessions.
Benchmarks on Wall Street too ended in the green on Thursday.
On the currency front, the rupee appreciated 14 paise to
69.73 against the US dollar.
Brent crude futures, the global benchmark, were trading 1.04
per cent lower at 64.65 per barrel.
