Sensex reclaims 36K-mark in early trade ahead of key earnings
Mumbai, Jul 11 The benchmark Sensex advanced by over 200 points to reclaim the 36,000-mark in early trade today led by gains on IT, realty and capital goods counters, ahead of key quarterly results scheduled later in the day.
The 30-share index rose for the third straight day by gaining 203.87 points, or 0.57 per cent, at 36,138.59 in early trade.
IT, realty, capital goods, oil and gas, metal, tech, auto, PSU, power and banking stocks led the upward movement, by rising up to 1.16 per cent.
The gauge had gained 360.17 points in the previous session two sessions.
The NSE Nifty also recaptured the 10,900 mark. The index was trading higher by 61.85 points, or 0.57 per cent, at 10,914.75.
Support came from key stocks such as Yes Bank, RIL, Adani Ports, HDFC Bank, Bajaj Auto, SBI, Bharti Airtel, Tata Motors, ICICI Bank, Tata Steel, NTPC, Maruti, Tata Steel, Infosys, Coal India, L&T and HDFC, rising up to 1.72 per cent.
Traders said widening of bets by investors ahead of Q1 numbers from IndusInd Bank and TCS, amid sustained buying by domestic institutional investors (DIIs) influenced market sentiment.
TCS shares rose 0.65 per cent to Rs 1,900, while IndusInd Bank fell 0.17 per cent to Rs 1,951.35.
Meanwhile, DIIs bought shares worth a net of Rs 740.39 crore, while Foreign institutional investors (FIIs) sold shares worth a net of Rs 569.91 crore yesterday, provisional data showed.
Overseas, most Asian stocks rose amid optimism over the upcoming earnings season, that is expected to be sufficiently robust to overshadow a rise in trade tensions.
Hong Kong’s Hang Seng rose 0.41 per cent, Japan’s Nikkei gained 0.94 per cent, while China’s Shanghai Composite Index shed 0.06 per cent.
US equities rose yesterday, as investors set aside concern about escalating trade tensions and rising political tension abroad to focus on the coming earnings season.
The US Dow Jones Industrial Average ended 1.31 per cent higher on yesterday.