The benchmark BSE Sensex increased by over 100 points in early hours of trade extending gains in the third session on Thursday. It is after US Federal Reserve announced widely expected the hike in key lending rate.
The 30 share index rose 102.07 points, i.e., 0.31 percent higher to be at 33,238.2. It had gained more than 200 points in previous two sessions.
The Sectoral indices led by metal, healthcare, FMCG, capital goods, oil and gas infrastructure gained 0.57 percent.
NSE Nifty was up by 32.70 points, i.e., 0.32 percent higher to be at 10187.95.
List of gainers included ONGC, Tata Motors, Sun Pharma, Reliance Industries, ITC, L&T and Tata Steel with a rise in 3.05 percent.
Brokers said sustained foreign fund inflows, increased buying by domestic institutional investors (DIIs) and the mixed trend in other Asian bourses, after the Fed rate hike, influenced the market.
Rupee also increased among dollars that supported investor’s sentiments, they said.
Meanwhile, on a net basis, DII purchases equities to the tune of Rs 197.78 crore, while foreign institutional investors (FIIs) bought shares worth Rs 98.44 crore on Wednesday as per a provisional data.
In other Asian markets, Japan’s Nikkei was trading higher by 0.38 percent while Hong’s Hang Seng fell by 0.61 percent to be in red in early deals. The Shanghai index was down by 0.93 percent.
The Industrial Average of US Dow Jones ended 0.18 lower on Wednesday.