Sensex Rises 150 Points Amid Gains Across Sectors

Shares elsewhere in Asia began the day on a strong note as a sustained recovery in China's services sector and the prospect of additional US stimulus whetted risk appetite.

Sensex Rises 150 Points Amid Gains Across Sectors

Infosys, TCS and HDFC Bank were the biggest boosts to Sensex

Domestic stock markets started Thursday's session on a positive note, tracking gains in global equities on hopes of recovery from the damage caused by the coronavirus pandemic. The S&P BSE Sensex index added 150.33 points - or 0.38 per cent - to touch 39,236.36 at the strongest level recorded in early deals, having started the day up 79.77 points (0.20 per cent) at 39,165.80. The broader NSE Nifty 50 benchmark rose to as high as 11,584.95, after opening mildly stronger at 11,566.20 compared to its previous close of 11,535.00.

At 10:02 am, the Sensex traded 40.34 points - or 0.10 per cent - higher at 39,126.37, while the Nifty was up 13.15 points - or 0.11 per cent - at 11,548.15.

Bharti Airtel, UPL, Wipro, Tata Motors and Tech Mahindra, trading between 2.08 per cent and 4.41 per cent higher, were the top percentage gainers in the 50-scrip Nifty basket. 

On the other hand, ICICI Bank, Bajaj Finance, Bharti Airtel, Axis Bank and Shree Cement, down between 1.31 per cent and 1.68 per cent each, were the worst hit among the 21 Nifty losers.

Infosys, TCS and HDFC Bank were the biggest boosts to Sensex, whereas Reliance Industries and ICICI Bank were the largest drags.

Shares elsewhere in Asia began the day on a strong note as a sustained recovery in China's services sector and the prospect of additional US stimulus whetted risk appetite.

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MSCI's broadest index of Asia-Pacific shares outside of Japan was up 0.04 per cent at the time, having earlier climbed up 0.50 per cent to hover near a recent two-and-a-half-year peak.

Japan's Nikkei 225 benchmark was up 1.24 per cent, while China's Shanghai Composite index was flat.

A closely-watched survey showed China's service sector activity grew for a fourth straight month in August, staying above the 50-mark, while companies hired more people for the first time since January.

The E-Mini S&P 500 futures traded 0.05 per cent lower, indicating a sluggish start for US markets on Thursday.

On Wednesday, the benchmark S&P 500 index closed 1.54 per cent higher, after data showed factory orders in the world's largest economy rose more than expected in July, pointing to continued improvement in the manufacturing sector.