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Sensex Gains 154 Points on Higher Capital Inflows

The strong start came in the face of sharp jump in inflation numbers, which were released on Monday.

PTI

Updated:August 16, 2017, 10:30 AM IST
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Sensex Gains 154 Points on Higher Capital Inflows
File photo: A broker monitors share prices at a brokerage firm in Mumbai. (Reuters)
Mumbai: The benchmark BSE Sensex surged about 154 points and the NSE Nifty reclaimed the 9,800-level in early trade on Wednesday, enthused by higher capital inflows by domestic investors.

The strong start came in the face of sharp jump in inflation numbers, which were released on Monday.

The 30-share barometer, which had gained 235.44 points in the previous session on Monday, was trading higher by 153.61 points, or 0.48 per cent, at 31,602.64, with FMCG, auto, power, consumer durables, IT, metal and realty stocks leading the gains. Markets remained closed on Tuesday on account of Independence Day.

On similar lines, the NSE Nifty was up by 36.60 points, or 0.37 per cent, at 9,830.75 points.

Brokers said sentiment remained upbeat on the back of persistent buying by domestic institutional investors (DIIs) even as retail inflation jumped to 2.36 per cent in July.

Wholesale inflation too rose sharply to 1.88 per cent in July -- first rise in five months -- as some food articles turned dearer even as the industry pitched for cut in interest rates citing weak industrial activity.

Brokers also said a mixed trend at other Asian markets as fears receded over a potential clash between the US and North Korea and overnight gains at Wall Street also influenced sentiments in Mumbai.

Globally, Hong Kong's Hang Seng was up 0.45 per cent, while Japan's Nikkei gained 0.02 per cent in their early trade. Shanghai's Composite index, however, down 0.10 per cent.

The US Dow Jones Industrial Average ended 0.02 per cent higher on Tuesday.
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