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Sensex rises over 100 points; healthcare, power stocks rally

Mumbai, Sept 14:  

The BSE Sensex was trading higher by 101 points in late morning trade today on sustained buying by domestic institutional investors mainly in healthcare, oil & gas, realty and PSU banking stocks.

At about 10.55 am, the 30-share index was quoting up 101.30 points, or 0.31 per cent, to 32,287.71. The gauge had gained 524.44 points in the previous five sessions. The Sensex opened at 32,289.26 and traded between 32,328.61 and 32,233.72.

Sectoral indices led by healthcare, power, capital goods, oil & gas and realty rose by up to 1.62 per cent.

The broader Nifty of NSE too was quoting higher by 34.25 points, or 0.34 per cent, at 10,113.55. The Nifty opened at 10,107.40 and traded between 10,126.50 and 10,097.80 in intra-day trade.

Brokers said continuous buying by domestic institutional investors (DIIs) and retail investors following fresh records on Wall Street on hopes of movement on US tax reform strengthened the sentiment.

Major Nifty gainers were Axis Bank (+3.47%), Sun Pharma (+2.99%), Tata Motors DVR (+2.23%), Tata Power (+2%), BPCL (+1.82%).

Meanwhile, DIIs bought shares worth a net Rs 725.90 crore yesterday, as per provisional data.

Stocks of state—run oil market companies such as BPCL, HPCL and IOC rose up to 2.10 per cent after oil minister Dharmendra Pradhan ruled out any intervention to disrupt the daily revision in petrol and diesel prices.

Globally, Japan’s Nikkei moved up 0.04 per cent, while Shanghai Composite Index shed 0.08 per cent. Hong Kong’s Hang Seng down 0.36 per cent in early trade.

The US Dow Jones Industrial Average ended 0.18 per cent higher in yesterday.

(This article was published on September 14, 2017)

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