Sensex Up Over 150 points; Nifty Tests 11,450
Amid sustained buying in most sectors including realty and power, a recovery in rupee and positive global cues, the BSE Sensex was trading 200 points higher in late morning deals and Nifty touched 11,442.40 level
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The BSE Sensex was trading nearly 200 points higher in late morning deals on sustained buying in most sectors led by realty, metal, power, basic materials, consumer durables, utilities, healthcare, auto and oil & gas stocks, amid a recovering rupee and positive global cues.
Investor sentiment was boosted as the industrial production grew at 6.6 per cent in July and retail inflation cooled to a 10-month low. The 30-share index was trading at 37,905.54 showing a gain of 187.58 points, or 0.50 per cent at 1150 hrs.
The broader Nifty-50 index also trading higher at 11,442.40, up 72.50 points, or 0.64 per cent. Major gainers were Vedanta, PowerGrid, Yes Bank, Sun Pharma and Asian Paints rising up to 3.47 per cent.
Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 1,086.39 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 541.44 crore on Wednesday, provisional data showed.
Overseas, Asia markets were trading higher. The gains, however, were capped by enduring concerns around trade following a tweet from US President Donald Trump. Trump yesterday said that Washington was "under no pressure to make a deal with China, they are under pressure to make a deal with us."
US stocks closed higher yesterday, with the S&P 500 up for a fourth straight session on the back of strong technology shares.