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1-min read

Sensex Rises Over 100 Points, Nifty Nears 10,200 Over Fed Rate Hike

The 30-share index was trading 102.07 points, or 0.31 percent, higher to 33,238.25. The gauge had gained 213.06 points in the previous two sessions.

PTI

Updated:March 22, 2018, 10:17 AM IST
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Sensex Rises Over 100 Points, Nifty Nears 10,200 Over Fed Rate Hike
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Mumbai: The benchmark BSE Sensex rose over 100 points in early trade today, extending gains for the third session, after US Federal Reserve announced the widely-expected hike in key lending rate.

The 30-share index was trading 102.07 points, or 0.31 percent, higher to 33,238.25. The gauge had gained 213.06 points in the previous two sessions.

Sectoral indices, led by healthcare, metal, capital goods, oil & gas infrastructure, auto and FMCG, gained up to 0.57 per cent. The NSE Nifty also advanced by 32.70 points, or 0.32 per cent, to 10,187.95.

Major gainers that supported the uptrend were ONGC, Sun Pharma, Tata Motors, Reliance Industries, ITC, Tata Steel and L&T, rising up to 3.05 per cent.

Brokers said sustained foreign fund inflows, increased buying by domestic institutional investors (DIIs) and a mixed trend in other Asian bourses, after the Fed rate hike, influenced the market.

An appreciating rupee against the dollar also supported investor sentiment, they said.

Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth Rs 98.44 crore, while DIIs purchases equities to the tune of Rs 197.78 crore yesterday, provisional data showed.

Among other Asian markets, Japan's Nikkei was trading higher by 0.38 per cent, while Hong Kong's Hang Seng fell 0.61 per cent in their early deals. The Shanghai Composite index was down by 0.93 per cent.

The US Dow Jones Industrial Average ended 0.18 per cent lower in Wednesday’s trade.

| Edited by: Nitya Thirumalai
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