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Sensex Rises 100 Points In Early Trade; Nifty Up By 46 Points

Sensex

Business: The domestic equity benchmark BSE Sensex jumped over 100 points in early trade on August 13. It is led by gains in index majors TCS, Infosys, and HUL amid firm cues from global peers and sustained foreign fund inflow.

 

The BSE Sensex was trading 123.61 points or 0.32 percent higher at 38,493.24. Meanwhile NSE Nifty was up 46 points or 0.41 percent at 11,354.40.

TCS was the top gainer in the Sensex pack. TCS rose around 2 percent, followed by NTPC. Tech Mahindra, ONGC, SBI, Infosys, and Tata Steel were the other gainers following behind.

 

IT stocks rallied after the US announced certain exemptions in H-1B and L-1 travel ban for those continuing employment with the same employer. The move is likely to help Indian IT professionals.

On the other hand, Bharti Airtel, ITC, Maruti, Sun Pharma, and HDFC were among the laggards.

In the previous session, the Sensex had settled 37.38 points or 0.10 percent lower at 38,369.6. While the NSE Nifty slipped 14.10 points or 0.12 percent to close at 11,308.40.

 

Exchange data showed that foreign institutional investors bought equities worth Rs 351.15 Crore. The investors bought equities on a net basis on August 12.

According to traders, early gains were led by buying in IT stocks and positive cues from global markets.

 

Sustained foreign fund inflow too buoyed market sentiment in the morning session, the traders stated.

Bourses in Hong Kong, Tokyo, and Seoul were trading with gains in mid-day deals, while Shanghai was in the red.

Stock exchanges on Wall Street ended on a positive note in overnight trade. Global oil benchmark Brent crude was trading 0.15 percent lower at USD 45.36 per barrel.

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Written by Headline8 Desk

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