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1-min read

Sensex Extends Gains in Choppy Trade; Up 132 Pts Despite Weak Macro Data

On similar lines, the NSE Nifty was up by 40 points, or 0.38 percent.

PTI

Updated:October 15, 2018, 4:10 PM IST
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Sensex Extends Gains in Choppy Trade; Up 132 Pts Despite Weak Macro Data
Representative image of Sensex.
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Mumbai: The benchmark BSE Sensex extended gains for the second straight day by surging about 132 points on Monday on sustained buying by domestic institutional investors despite disappointing macro-economic data and uninterrupted foreign fund outflows.

The NSE index Nifty ended above the 10,500-mark.

However, investor mood remained cautious due to fresh weakness in the rupee on rising crude oil prices and a subdued trend at other Asian markets, following worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and signs of tighter monetary policy by the US Federal Reserve.

The rupee again breached the 74-mark against the US dollar to quote at 74.05 (intra-day) in the forex market.

Brent crude, the international benchmark, was trading higher by 0.98 percent, to USD 81.79 per barrel.

Meanwhile, inflation based on wholesale prices rose to a two-month high of 5.13 percent in September, mainly due to hardening of food prices and rise in cost of petrol and diesel, according to data released Monday.

Industrial production slipped to a three-month low of 4.3 percent in August, while retail inflation up marginally to 3.77 percent in September, data released by Central Statistics Office (CSO) on Friday.

The 30-share barometer, which had gained 732.47 points, its biggest single day gain in 19 months on Friday, reclaimed the 35,000-mark to hit a high of 35,008.65 at the outset on sustained buying by DIIs but turned choppy and slipped into negative zone to touch a low of 34,559.98.

Finally, it settled 131.52 points, or 0.38 percent, higher at 34,865.10, largely supported by gains in healthcare and information technology space.

On similar lines, the NSE Nifty was up by 40 points, or 0.38 percent, at 10,512.50. Intra-day, it shuttled between 10,526.30-10,410.15.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 1,287 crore, while foreign portfolio investors (FPIs) sold shares to the tune of Rs 1,322 crore on Friday, as per provisional data.

| Edited by: Parth Sharma
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