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Thursday, February 27, 2020

Sensex jumps over 200 points; Nifty tests 12,100

According to traders, domestic equities rallied on global optimism over the US-China trade truce.

By: PTI | Mumbai | Published: December 17, 2019 10:32:14 am
Maruti was the top gainer in the Sensex pack rising up to 1.85 per cent, followed by Vedanta, ITC, Yes Bank, Infosys, Tata Steel, Bharti Airtel and SBI. (file photo of the BSE in Mumbai)

Equity benchmark BSE Sensex jumped over 200 points in early trade on Tuesday tracking firm cues from global equities and sustained foreign fund inflow.

The 30-share index rose 203.40 points or 0.50 per cent to 41,142.12 in morning session. Similarly, the broader Nifty was trading 55.65 points or 0.46 per cent higher at 12,109.05.

Maruti was the top gainer in the Sensex pack rising up to 1.85 per cent, followed by Vedanta, ITC, Yes Bank, Infosys, Tata Steel, Bharti Airtel and SBI.

On the other hand, ONGC was the top loser, shedding up to 0.64 per cent. PowerGrid, NTPC and Bajaj Auto were also trading in the red.

In the previous session, the 30-share gauge ended 70.99 points or 0.17 per cent down at 40,938.72, while the Nifty finished 32.75 points or 0.27 per cent lower at 12,053.95.

According to traders, domestic equities rallied on global optimism over the US-China trade truce.

Foreign fund inflow too boosted market mood here, they said.

On a net basis, foreign institutional investors bought equities worth Rs 728.13 crore, while domestic institutional investors sold shares worth Rs 796.38 crore, data available with stock exchange showed on Monday.

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Bourses in Hong Kong, Shanghai, Tokyo and Seoul were trading on a positive note. Benchmarks on Wall Street ended at record peaks on Monday.

Brent futures, the global oil benchmark, fell marginally to USD 65.33 per barrel.

Rupee

The Indian rupee appreciated by 4 paise to 70.96 against the US dollar in early trade on Tuesday tracking gains in domestic equity market and foreign fund inflows.

Forex traders said market participants were enthused following positive developments on the US-China trade talk front and last week’s general election win for Britain’s Prime Minister Boris Johnson.

At the interbank foreign exchange the rupee opened at 70.96, registering a rise of 4 paise over its previous close. On Monday, rupee had settled for the day at 71.00 against the US dollar.

The domestic unit, however, could not hold on to the gains and was trading at 70.98 against the dollar at 0947 hrs.

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