Published: Wed, April 11, 2018
Worldwide | By Victor Meyer

Sensex Extends Gaining Streak To Fifth Day; IT, Metal Stocks Lead Gains

Sensex Extends Gaining Streak To Fifth Day; IT, Metal Stocks Lead Gains

It may be noted that Chinese President Xi Jinping's recent relaxation of certain norms has eased pressure on global markets. "Metal and realty outperformed due to ease in global trade tensions while surge in oil price and bond yield refrained heavy weights from participating", Vinod Nair, head of research at Geojit Financial Services Ltd, said.

Furthermore, widening of bets by investors amid optimism ahead of earnings season, to begin later this week, also supported the uptrend, brokers said.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,880.11 points, traded at 33,915.78 points - up 127.24 points or 0.38 per cent from its previous session's close.

The Sensex ended 0.27 percent higher at 33,880.25, while the Nifty closed up 0.22 percent at 10,402.25.

More news: Women Are Getting Raped 'At Levels Never Seen Before' During Border Crossings

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 1300.93 crore while Domestic Institutional Investors (DIIs) bought shares worth Rs 359.35 crore on Monday, a provisional data showed. After opening the session on a muted note, benchmark indices moved higher and closed at nearly four-week highs as investors shrugged fears of a global trade war.

Major laggards were Adani Ports, down 2.26 per cent, SBI 2.07 per cent, ICICI Bank 1.82 per cent, Axis Bank 1.40 per cent, Yes Bank 1.27 per cent and Dr Reddy's 0.71 per cent. In the broader market, BSE Midcap and the BSE Smallcap indices slipped up to 0.5 per cent.

Majority of the Asian markets are flat in early trading on Tuesday.

Gainers include ONGC, up 1.47 per cent, TCS 1.31 per cent, Sun Pharma 1.08 per cent and Reliance 0.89 per cent. London's FTSE was quoting 0.35 per cent higher. Nasdaq gained over 0.51 percent while S&P 500 was up by 0.33 percent.

Like this: