Sensex rises over 100 points, Nifty tops 10,400 on firm global cues, Axis Bank up 3.50%

The benchmark BSE Sensex was trading at 33,924.61, 136.07 points or 0.40% higher at 10.08 am, while the NSE Nifty breached the 10,400-mark, up 38.85 points or 0.37%, at 10,418.20.

business Updated: Apr 10, 2018 10:21 IST

A traffic signal stands illuminated next to the Bombay Stock Exchange (BSE) building in Mumbai, India, on Thursday, Feb. 1, 2018. Prime Minister Narendra Modi's government ended a tax break on equity investments as it taps the stock market boom to boost its coffers. Photographer: Dhiraj Singh/Bloomberg(Dhiraj Singh/Bloomberg)

Benchmark BSE Sensex advanced over 130 points on Tuesday, continuing its rising streak for the fourth straight day, on firm global leads after Chinese President Xi Jinping’s speech eased worries over a trade war.

The 30-share BSE Sensex was trading at 33,924.61, 136.07 points or 0.40% higher at 10.08 am. The gauge had gained 774.47 points in the previous three sessions.

The NSE Nifty breached the 10,400-mark, up 38.85 points or 0.37%, at 10,418.20.

Meanwhile, domestic institutional investors (DIIs) bought shares worth Rs 359.35 crore on Monday, while foreign portfolio investors (FPIs) remained sellers and offloaded shares worth Rs 1,300.93 crore as per provisional data.

A firm trend in other Asian markets after Chinese President Xi Jinping eased worries over a simmering US trade conflict by promising new measures to open his country’s massive economy “wider and wider” boosted investor sentiment on the domestic bourses, brokers said.

The rupee’s appreciation against the dollar and widening of bets by investors amid optimism ahead of earnings season also supported the uptrend, they said.

Major gainers included Axis Bank, Adani Ports, , ICICI Bank, Tata Steel, L&T, Coal India,PowerGrid, and TCS, gaining up to 3.61%.

In the Asian region, Japan’s Nikkei gained 1.08% and Shanghai Composite rose 0.75% in early trading today while Hong Kong’s Hang Seng was up 0.82%.

The US Dow Jones Industrial Average ended 0.19% higher in Monday’s trade.