The benchmark BSE Sensex rises as software services exporters lead gains after Wall Street hit a record high on strong data from the holiday shopping season and a fall in initial jobless claims. The BSE Sensex was trading up 113 points while the NSE Nifty gained 32 points as of 11.32 am.
Recent data continues to point to a sturdier U.S. economy,further brightening the outlook for India’s export-dependant IT sector.
Blue chip stocks also extend gains,after foreign institutional investors were net buyers of 7.44 billion rupees in Indian shares on Thursday,bringing their monthly total so far to around $2.5 billion.
Housing Development Finance Corporation Ltd (HDFC) gains 1.5 percent,while Larsen & Toubro is up 1 percent.
BSE Sensex up 127 points in morning deals,Infosys,Wipro,TCS gain
(PTI) The BSE Sensex rallied by 127 points in morning trade today on persistent buying in realty,IT,tech,consumer durables,metal and banking sectors amid higher global cues and good foreign capital inflows.
The market sentiment was boosted by data showing that foreign funds were net buyers of Indian stocks yesterday.
The BSE-30 share index,Sensex,resumed higher at 21,114.49 and hardened further to 21,217.12 before quoting at 21,201.16 points at 1030 hours.
It showed a gain of 126.57 points or 0.60 per cent from its last close.
The NSE 50-share NSE Nifty also firmed up by 34.65 points or 0.55 per cent to 6,313.55 at 1030 hours.
Asian stocks rose in early trade,as improved economic data sent US stocks surging overnight.
Key benchmark indices in China,Hong Kong,Taiwan,South Korea and Singapore were up 0.14 to 0.84 per cent,while Japan’s Nikkei Average fell 0.32 per cent.
US stocks extended all-time highs yesterday as a drop in jobless claims fuelled optimism in the economy.
Foreign institutional investors (FIIs) bought shares worth a net Rs 743.70 crore yesterday,as per provisional data from the stock exchanges.