Sensex surges 120 pts in opening; Nifty trades above 8,700

10/10/2016 09:35

The Indian equities belled the day on positive note on Monday as investor optimism over the Q2 quarterly earnings season and improved outlook for Asia’s third biggest economy bolstered risk taking appetite.

At 9:25 AM, the Bombay Stock Exchange bellwether Sensex was at 28184.48, up by 123.34 points or by 0.44 per cent, and the NSE Nifty was at 8730.8, up by 33.2 points or by 0.38 per cent.

In a truncated trading week with markets closed on Tuesday and Wednesday, the focus will be on September quarter earnings from IT giants TCS and Infosys on October 13 and October 14, respectively. The IIP data for August and consumer inflation numbers for September to be released on Monday, will offer further cues over monetary easing by the Reserve Bank of India in the near-term.

On the global front, Asian stocks were trading mixed as traders eyed the second US Presidential debate even as Republican nominee Donald Trump’s chances of getting elected to the office took a severe blow after the surfacing of a 2005 video in which he made degrading comments about women.

In the opening trade, the BSE Sensex touched intraday high of 28216.64 and intraday low of 28143.65, while the NSE Nifty touched intraday high of 8745.8 and intraday low of 8728.7.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 413.45,+1.73%), Asian Paints Ltd. (Rs. 1204.45,+1.59%), Cipla Ltd. (Rs. 576.10,+1.12%), Mahindra & Mahindra Ltd. (Rs. 1386.85,+0.95%), Coal India Ltd. (Rs. 321.65,+0.78%), among others.

Meanwhile, Bharti Airtel Ltd. (Rs. 317.10,-0.95%), Infosys Ltd. (Rs. 1010.80,-0.18%), were among top losers on BSE.

On the sectoral front, all the thirteen indices were trading in green, with metal and PSU stocks were leading the gain, adding as much as 1.53 per cent and 0.61 per cent respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 1538, shares advanced were 1189 while 312 shares declined and 37 were unchanged.

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