BSE gains over 100 points; Nifty crosses 10500-mark

share on:
nifty

The BSE-Sensex gained over 100 points in early trade on Friday, continuing its rising streak for the seventh straight session on the back of positive macroeconomic data, ahead of Infosys earnings later in the day.

The 30-share index gained 160.93 points (0.47 percent) at 34262.06 at 10.21 AM. Earlier the gauge had gained nearly 1100 points in the previous six days.

Sectoral indices led by banking, metals and realty stocks rose up to 1 percent.

The broader 50-share Nifty of the National Stock Exchange (NSE) rose 43.15 points (0.41 percent) to 10501.80.

Brokers said buying activity upon positive macroeconomic data as industrial production grew by a healthy 7.1 percent in February.

The uptick in industrial production was largely driven by robust performance of the manufacturing sector, coupled with a higher offtake of capital goods and consumer durables.

Retail inflation based on the Consumer Price Index (CPI) moderated in March due to easing in food and vegetable prices. Fall in retail inflation to a five-month low too had a positive impact on the market, brokers added.

Major gainers were Bharti Airtel, Adani Ports, Axis Bank, Kotak Bank, ICICI Bank, Bajaj Auto, Asian Paints, Tata Steel, Dr. Reddy’s, M&M, RIL and Maruti Suzuki rising up by over 2 percent.

IT major Infosys will announce its Q4 results today, the share was trading higher by 0.25 percent at Rs 1165.20.

Meanwhile, on a net basis, Domestic Institutional Investors (DIIs) sold shares worth Rs 615.81 crore while Foreign Portfolio Investors (FPIs) bought shares worth Rs 368.90 crore on Thursday, a provisional data showed.

Overseas, Asian Shares were trading mixed after US market gained as geopolitical concerns appeared to fade away. Hong Kong’s Hang Seng shed 0.28 percent while Japan’s Nikkei rose by 0.51 percent in early trade. Shanghai composite index fell 0.30 percent.

The US Dow Jones Industrial Average ended 0.32 percent higher in Thursday’s trade. Nasdaq gained 1.01 percent while S&P 500 also rose o.83 percent.

share on: