Markets opened higher tracking their Asian peers. Rebound in global crude oil prices also aided sentiment. Further, a weak US services data dampened hopes of a further rate hike by the Federal Reserve in the near future helping a rally on Wall Street.
The market continues to see firm buying in early trade. The Sensex is up 158.96 points or 0.7 percent at 24382.28, and the Nifty up 52.65 points or 0.7 percent at 7414.45. About 1272 shares have advanced, 459 shares declined, and 59 shares are unchanged.
GLOBAL MARKETS
Asian shares bounced back in today’s trade after a weak US services data dampened hopes of a further rate hike by the Federal Reserve in the near future which in turn hammered the dollar and spurred a rise in the oil prices. Hang Seng and Shanghai Composite have gained between 1%-1.5%. However, Japan’s Nikkei has lost 0.7% as yen strengthened against the dollar and Straits Times was up 0.7%.
US stocks ended higher on Wednesday tracking rebound in global crude oil prices. The Dow Jones industrial average ended up 1.1% while the S&P 500 gained 0.5% and the Nasdaq ended down 0.3%.
SECTORS & STOCKS
BSE Capital Goods index was the top gainer followed by Auto, Metal and Bankex among others. Of the 30 Sensex stocks only two stocks were trading lower.
Oil shares were the top gainers tracking rebound in global crude oil prices. RIL, ONGC and Cairn India were up 1%-4% each,
Index heavyweights such as Infosys, HDFC and ITC also led the gains on the Sensex up 0.7%-1.2% each.
Other gainers include, HDFC Bank and L&T among others.
Tata Steel was down nearly 1% while Bajaj Auto was trading flat ahead of their third quarter earnings later today.
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