Sensex Jumps 200 Points, Nifty Near 10,850 After US-North Korea Talks

NDTV Profit Team

12 Jun 2018, 02:24 PM IST

In Asian equity markets, trading was volatile.

The domestic equity markets extended their gains on Tuesday as US President Donald Trump said that a summit with North Korea's Kim Jong Un had made "a lot of progress". At 2:12 pm am, the S&P BSE Sensex was up 200.54 points or 0.57 per cent to trade at 35,684.01 level while the broader Nifty50 was at 10,845.95 mark, with a gain of 59 points or 0.55 per cent. The gains in the 30-share Sensex pack were led by Dr Reddy's Laboratories (up 4.97 per cent), State Bank of India (up 2.16 per cent), IndusInd Bank (up 2.10 per cent), Hindustan Unilever (up 1.97 per cent), and Tata Consultancy Services (up 1.87 per cent).

The US-North Korea summit has raised hopes of a landmark deal to end the nuclear standoff on the Korean peninsula. Earlier, investor sentiment was a bit cautious ahead of the annual retail inflation for the month of May and industrial output growth for April, which will be released in the evening today.

"The 10,850 level (of Nifty) would be a strong resistance for the bulls to cross. Intermediate trend line support placed near 10,600. If bulls manage to surpass the 10,850 level, we may see further escalation towards 11000 level," said Dyaneshwar Padwal, AVP technical analysis, KIFS Trade Capital.

In Asian equity markets, trading was volatile with Japan's Nikkei paring early gains to close 0.3 per cent higher after earlier rising as much as 0.9 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan seesawed between positive and negative territory, and was last up 0.15 per cent. South Korean shares were a tad weaker while Chinese shares were buoyant after starting in the red. The blue-chip CSI 300 index jumped about 1.3 per cent.

On Monday, foreign portfolio investors (FPIs) net sold equities worth Rs 1,156.77 crore while domestic institutional investors (DIIs) net purchased Rs 1,062.82 crore, according to provisional data from the NSE. The Sensex had closed at 35,483.47 level while the Nifty50 had settled at 10,786.95.

(With Reuters inputs)