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Sensex jumps 185 points; realty stocks steal the show

October series begins on a firm note; DIIs on buying spree


Chennai, Sept 29:  

The benchmark BSE Sensex was trading higher by nearly 200 points due to sustained buying by domestic institutional investors. Also, the October derivatives series got off the ground on a solid footing.

At 12.20 p.m., the 30-share BSE index Sensex was up 184.73 points or 0.59 per cent at 31,467.21 and the 50-share NSE index Nifty was up 62.8 points or 0.64 per cent at 9,831.75.

All BSE sectoral indices were trading in the positive zone. Among them, realty index was the star-performer and was up 3.21 per cent, followed by oil & gas 1.97 per cent, metal 1.62 per cent, and auto 1.4 per cent.

Top five Sensex gainers were Bajaj Auto (+3.09%), ICICI Bank (+1.72%), Hero MotoCorp (+1.65%), Adani Ports (+1.56%) and M&M (+1.53%), while the major losers were HUL (-1.66%), Power Grid (-1.46%), Dr Reddy’s (-0.79%) and TCS (-0.72%).

Early trade

The 30-share index, which had rallied 122.67 points in the previous sessions, gained 170.29 points or 0.54 per cent to 31,452.77. The NSE Nifty advanced by 58.40 points or 0.59 per cent to 9,827.35.

Domestic institutional investors bought shares worth Rs 5,196.60 crore yesterday, as per provisional data.

Investors were seen creating new positions following the beginning of the October futures and options (F&O) series that lifted the key indices.

Asian shares

Asian shares regained some poise on Friday after a tough week in which the gathering risk of a US rate rise lifted Treasury yields toward nine-year highs and boosted borrowing costs across the region.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.2 per cent, but was still down a sizeable 2 per cent for the week so far.

US stocks

Wall Street had edged higher on Thursday, as the S&P 500 eked out a record on gains in McDonald’s and healthcare names, while investors continued to hope President Donald Trump will be able to make progress on tax reform.

The Dow Jones Industrial Average rose 40.49 points or 0.18 per cent to 22,381.2, the S&P 500 gained 3.02 points or 0.12 per cent to 2,510.06 and the Nasdaq Composite added 0.19 points to 6,453.45.

(This article was published on September 29, 2017)

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