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Global cues, appreciation in rupee boost equity indices (Roundup)

09 Jul 2018
Mumbai July 9 (IANS) Firm global cues coupled with an appreciation in the Indian rupee lifted the key Indian equity indices on Monday.
According to market observers a healthy US jobs data released on Friday strengthened the investor sentiments in the global markets.
Index-wise in the domestic market the broader Nifty50 of the National Stock Exchange (NSE) closed at 10 852.90 points -- higher by 80.25 points or 0.74 per cent -- from its previous close of 10 772.65 points.
Similarly the barometer 30-scrip Sensex on the BSE which had opened at 35 835.10 points closed on a positive note. It ended the day s trade at 35 934.72 points -- up by 276.86 points or 0.78 per cent -- from its previous session s close of 35 657.86 points.
Sensex touched a high of 35 977.37 points and a low of 35 779.72 during the intra-day trade.
In the broader markets the S&P BSE mid-cap rose by 1.23 per cent and the S&P BSE small-cap ended 1.58 per cent higher from its previous close. The BSE market breadth was bullish with 1 708 advances against 907 declines.
"The gains came on the back of a robust June payrolls in the US " said V.K. Sharma Head of Private Client Group and Capital Market Strategy at HDFC Securities.
The BNP Paribas Mutual Fund s Senior Fund Manager for Equities Abhijeet Dey said trading for the week began on a firm note following positive global stocks.
Fresh buying in pivotal indices propelled the key benchmark indices to trade in the positive zone Dey added.
Further appreciation in the rupee against the dollar also firmed up the investor sentiments.
The rupee strengthened by 15 paise on Monday to end at 68.72 per dollar against the previous close of 68.87 per greenback.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 569.91 crore while the domestic institutional investors bought stocks worth Rs 740.39 crore.
Sector-wise all the indices ended on a positive note with the S&P BSE banking index gaining the most by 277.41 points. It was followed by the capital goods and metal indices which rose by 255.43 points and 155.99 points respectively.
The major gainers on the Sensex were Vedanta up 3.14 per cent at Rs 226.40; Asian Paints up 3.11 per cent at Rs 1 364; Yes Bank up 2.70 per cent at Rs 361.90; Sun Pharma up 1.97 per cent at Rs 569.45; and Reliance Industries up 1.96 per cent at Rs 995.65 per share.
The top losers were Tata Consultancy Services down 1.34 per cent at Rs 1 887.65; HDFC down 0.32 per cent at Rs 1 909.70; IndusInd Bank down 0.22 per cent at Rs 1 954.60; Bharti Airtel down 0.22 per cent at Rs 361.05; and Coal India down 0.11 per cent at Rs 271 per share.

--IANS rrb/qd/mr