Sensex Climbs Over 200 Points, Nifty Above 11,500

NDTV Profit Team

06 Sep 2018, 01:45 PM IST

Ultracemco, Tata Motors, Hindustan Petroleum, YES Bank and Tata Steel led the pack of Nifty gainers.

Benchmark equity indices opened on a mildly positive note on value-buying in select bluechip stocks and fall in global crude oil prices, but pared gains later, after the Indian rupee touched a record low. However, the indices were again trading in green in afternoon trade. At 2:53 pm, the S&P BSE Sensex was trading at 38,270.43, up 252.12 points or 0.66 per cent while the broader Nifty50 was ruling at 11,542.85, up 65.90 points or 0.57 per cent. Sectoral indices, including realty, metal, healthcare, consumer durables, PSU, FMCG and capital goods were trading in the positive zone by rising up to 1.39 per cent.

The Indian rupee collapsed below the 72-level for the first time today. The domestic currency slipped 37 paise to trade at 72.12 against the US currency in afternoon trade.

Main losers on Sensex pack in the morning session were HDFC Bank (-0.20%), Infosys (-0.23%), Axis Bank (-0.33%), NTPC (-0.42%), TCS (-0.47%) and ONGC (-0.60%). Main laggards on Nifty pack were ZEEL (-4.51%), Infratel (-1.58%), ONGC (-0.72%), HCL Tech (-0.68%) and TCS (-0.24%).

The Securities and Exchange Board of India (Sebi) on Wednesday said it would review an order tightening rules on foreign funds ownership by entities of Indian origin, after some fund managers said it could lead to massive dollar outflows.

However, asian shares fell for the sixth straight session on Thursday as oil skidded and safe-haven gold gained, with investor confidence shaken by turmoil in emerging markets and jitters over a potentially severe escalation in the US-China trade war.

In global commodities markets, oil prices fell on Thursday as emerging market woes weighed on sentiment, while a deadline neared for a potential new round of US tariffs on another $200 billion of Chinese goods. Gold was stronger with spot gold up 0.2 per cent at $1,198.5 an ounce

On the other hand, major gainers in the 30-share Sensex pack in the session were Tata Motors (+1.36%), Power Grid (+1.28%), Coal India (+1.24%), Hindustan Unilever (+1.07%), Tata Steel (+1.07%) and Induslnd Bank (+0.78%). Ultracemco (+1.57%), Tata Motors (+1.22%), Hindustan Petroleum (+1.09%), YES Bank (+1.06%) and Tata Steel (+0.82%) led the pack of Nifty gainers.

Meanwhile, domestic stock markets closed in the red on Wednesday. The S&P BSE Sensex dropped 139.61 points to settle at 38,018.31, closing loser for a sixth session in a row. The Nifty ended 43.35 points lower at 11,476.95. (With agencies inputs)