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Sensex Rises Over 100 Points, Nifty Firm Above 10,300; Auto Stocks Jump

Sensex Rises Over 100 Points, Nifty Firm Above 10,300; Auto Stocks Jump

Domestic stock markets started Wednesday’s session on a marginally higher note tracking gains in global equities. The S&P BSE Sensex index rose as much as 0.40 per cent – or 141.37 points – to 35,057.17 in the first few minutes of trade, having started the day up 93.79 points at 35,009.59. The broader NSE Nifty 50 benchmark climbed to as high as 10,336.90, after opening mildly stronger at 10,323.80 compared to its previous close of 10,302.10. Gains in automobile and select financial stocks supported the markets.

At 9:20 am, the Sensex traded 78.79 points – or 0.23 per cent – higher at 34,994.59, while the Nifty was up 15.80 points (0.15 per cent) at 10,317.90.

Top percentage gainers in the 50-scrip index at the time were UPL, Bharat Petroleum, Mahindra & Mahindra, Bharti Airtel and HDFC, trading between 1.08 per cent and 2.08 per cent higher. 

On the other hand, Zee Entertainment, NTPC, Kotak Mahindra Bank, ONGC and Larsen & Toubro – down between 1.49 per cent and 2.43 per cent each – were the top Nifty losers. 

The Nifty Auto index – comprising shares in manufacturers of automobiles and auto ancillaries – traded up 0.31 per cent at the time, having risen as much as 0.70 per cent earlier, as companies geared up to report their monthly sales figures.

Equities in other Asian markets registered cautious gains as improving economic data was offset by worries that surging coronavirus cases in the US could derail the world’s recovery before it properly begins.

MSCI’s broadest index of Asia Pacific shares outside Japan was last seen trading 0.35 per cent higher, while China’s Shanghai Composite, Hong Kong’s Hang Seng and South Korea’s KOSPI indices were up 0.85 per cent, 0.52 per cent and 0.83 per cent respectively.

However, Japan’s Nikkei 225 benchmark was down 0.19 per cent at the time.

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