Sensex moves up 113 points, Nifty climbs above 10,000; rupee drops at 65.15 against dollar

In the Sensex kitty, Sun Pharma topped the gainers list by climbing 2.42 per cent to Rs 538.50. The rupee traded a shade lower at 65.15 against the dollar due to mild demand for the greenback from importers and banks despite the latter's weakness overseas.

By: PTI | Mumbai | Published:October 12, 2017 11:14 am
Sensex, Nifty, Nifty index, market news, BSE, NSE Nifty, business news, indian express news The Bombay Stock Exchange in Mumbai. (Express photo by Ganesh Shirsekar/Files)

The benchmark Sensex went up 113 points and the NSE Nifty seized control of 10,000 level Thursday as domestic investors raised the bar ahead of key industrial output numbers to be released later in the day. Another record close on Wall Street after the release of the US Fed minutes fuelled the uptrend. The 30-share Sensex was higher by 112.53 points, or 0.35 per cent, at 31,946.52. Healthcare, realty, IT, capital goods, oil and gas and auto stocks were in the pink of health, rising by up to 0.86 per cent.

The gauge had lost 90 points Wednesday.The NSE Nifty too rose 36.60 points, or 0.36 per cent, to 10,021.40. Building up of positions by participants ahead of key economic data — industrial production (IIP) for August and consumer inflation for September to be released after market closing today — drove up domestic bourses.

In the Sensex kitty, Sun Pharma topped the gainers list by climbing 2.42 per cent to Rs 538.50 after the company said it has received establishment inspection report (EIR) from the US health regulator for its Dadra facility. Stock of the country’s largest software exporter, TCS, was trading higher by 0.83 per cent at Rs 2,521.15 ahead of its September quarterly earnings slated later in the day.

Other big movers were Lupin, Reliance Industries, NTPC, Hero MotoCorp, Tata Steel, Hindustan Unilever, M&M, Maruti Suzuki, Infosys and Bajaj Auto, advancing up to 1.08 per cent. Japan’s Nikkei rose 0.47 per cent while Hong Kong’s Hang Seng moved up 0.17 per cent in early trade today. China’s main Shanghai Composite, however, shed 0.24 per cent.

The US Dow Jones Industrial Average ended at a record high by surging 0.18 per cent yesterday. The rupee traded a shade lower at 65.15 against the dollar due to mild demand for the greenback from importers and banks despite the latter’s weakness overseas. The US Fed minutes signalled rate hike eventuality despite low inflation levels. The rupee resumed marginally higher at 65.13 as against yesterday’s closing level of 65.14. It later slipped to 65.15 at 1020 hours.

“Higher local equities is restricting the rupee volatility,” a forex trader said.

Meanwhile, FPIs withdrew Rs 107.95 crore on a net basis from stock markets yesterday, as per provisional data. Overseas, the US dollar hit a two-week low versus a basket of currencies in early Asian trade after the minutes from suggested that some central bankers are still concerned about persistently low inflation. The BSE Sensex rose 112.62 points, or 0.35 per cent, at 31,946.61.

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