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Sensex Rises Over 100 Points, Nifty Above 10,900: 10 Things To Know
16 Jan 2019, 09:36 AM IST 
Share markets on Wednesday: The gains on Dalal Street were led by banking, metal and realty stocks.
- At 10:53 am, the 30-share benchmark index traded 75.17 points or 0.22 per cent higher at 36,393.50, and the Nifty was at 10,907.85, up 21.05 points or 0.19 per cent from the previous close.
- Top gainers on the 50-scrip index included Indiabulls Housing Finance, Grasim Industries, Wipro, GAIL and IndusInd Bank, trading between 1.61 and 3.11 per cent higher. The Nifty PSU bank index was up 1.45 per cent at that time.
- According to traders, despite weakness in global markets, investor's mood on Dalal Street was positive on news that declining imports had narrowed the trade deficit to a ten-month low of $13.08 billion in December 2018 as against $14.2 billion in the corresponding month previous year.
- However, the upside was limited as exports grew at at 0.34 per cent in December, marking the slowest pace in three months.
- "The recent stock market action is indicative of bull market action, shrugging off bad news and moving higher on good news," said Sunil Sharma, chief investment officer, Sanctum Wealth Management.
- "With expectations for a rate cut rising, improving recoveries on bad loans, and rising domestic SIP flows, we expect investors to look past disappointing news flow," he said.
- Global investor sentiment, on the other hand, was cautious on Wednesday after British Prime Minister Theresa May's divorce deal to leave the European Union was overwhelmingly rejected by MPs, triggering a no-confidence motion against her government and leaving the country with no plans for Brexit on March 29. This is the biggest defeat for a sitting British government in history.
- MSCI's broadest index of Asia-Pacific shares outside Japan was off a touch, having swung up on Tuesday after Chinese officials came out in force to signal more measures to stabilise a slowing economy.
- The rupee, meanwhile, started on a weaker note but soon pared the losses and edged higher by 13 paise to 70.92 against the dollar in opening trade on Wednesday.
- On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 159.60 crore Tuesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 417.44 crore, provisional data available with BSE showed.
(With inputs from agencies)
