Markets continues to rise for a record 10th session

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The benchmark Sensex of the Bombay Stock Exchange (BSE) continued its jump for a record 10th session in early trade on positive global leads and sustained buying by DIIs.

The 30 share barometer gained 110.13 points (0.32 percent) to 34505.19. Earlier, the gauge had gained 1375.99 points in the previous nine sessions.

Sectoral indices led by metal and healthcare stocks were trading positive in early hours of trade on Wednesday.

The broader 50 share NSE Nifty also opened on a high by 30.70 points (0.29 percent) at 10579.40.

Brokers said continuous buying by domestic institutional investors (DIIs) and retail investors following a firm trend at other Asian bourses, overnight gains on Wall Street, and encouraging data strengthened market sentiment.

Major gainers were Yes Bank, Adani ports, Wipro, Asian Paints, ITC, Tata Motors, ONGC, Bharti Airtel, Sun Pharma, TCS, Tata Steel, Maruti Suzuki and RIL rising up to 1.47 percent.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 951.39 crore, while Domestic Institutional Investors bought shares worth Rs 723.81 crore on Tuesday, a provisional data showed.

However, The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar in early trade at the interbank forex market today on fresh demand for the greenback from importers and banks.

In other Asian markets, Japan’s Nikkei moved up 1.29 percent, Hong Kong’s Hang Seng rose 0.27 percent in early trade. Shanghai Composite Index, however, shed 0.36 percent.

The US Dow Jones Industrial Average ended 0.87 percent higher on yesterday’s trade. Nasdaq Composite Index gained 1.74 percent while S&P 500 closed 1.07 percent high.

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