Sensex rises over 120 point in early trade; Nifty tops 13,000

Mumbai, December 1 dmanewsdesk:  Equity benchmark Sensex climbed over 120 points in opening trade on Tuesday, as better than expected GDP data strengthened market sentiment amid unabated foreign capital inflows.

The 30-share BSE index was trading 126.62 points or 0.29 per cent higher at 44,276.34.

Similarly, the broader NSE Nifty rose 32.45 points or 0.25 per cent to 13,001.40.

UltraTech Cement was the top gainer in the Sensex pack, rising about 2.5 per cent, followed by Infosys, Sun Pharma, Bajaj Auto PowerGrid, ICICI Bank and IndusInd Bank.

On the other hand, ONGC, M&M, Nestle India, Axis Bank and HDFC were among the laggards.

In the previous session, Sensex ended 110.02 points or 0.25 per cent lower at 44,149.72, and NSE Nifty slipped 18.05 points or 0.14 per cent to 12,968.95.

Equity markets were closed on Monday for Guru Nanak Jayanti.

India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent, official data showed on Friday.

Meanwhile, the output of eight core infrastructure sectors dropped by 2.5 per cent in October, mainly due to decline in production of crude oil, natural gas, refinery products and steel.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 7,712.98 crore on a net basis on Friday, according to provisional exchange data.

Elsewhere in Asia, bourses in Tokyo, Shanghai, Hong Kong and Seoul were trading with gains in mid-session deals.

Stock exchanges on Wall Street ended lower in overnight sessions.

Brent crude futures, the global oil benchmark fell 1.22 per cent to USD 47.59 per barrel.

Source: PTI