Sensex rises nearly 400 points a day after IAF air strike on Pakistan; Nifty above 10,900-mark
TIMESOFINDIA.COM | Updated: Feb 27, 2019, 11:06 ISTHighlights
- On the BSE index, Sun Pharma, Yes Bank, Bajaj Auto, Mahindra & Mahindra, Asian Paints and Tata Motors were among the major gainers with their stocks rising as much as 2.86 per cent
- On NSE, except for Nifty IT, all other sub-indices were trading in green with Nifty Auto and Pharma leading the pack by climbing as much as 1.37 per cent
(File photo)NEW DELHI: A day after the Indian Air Force (IAF) air strike on Pakistan, markets turned positive on Wednesday with the benchmark BSE Sensex surging nearly 400 points. In the late morning deals, Sensex moved 393 points or 1.09 per cent higher to 36,367, while the broader NSE Nifty rallied 101 points or 0.93 per cent to 10,936.
The 30-share BSE index had gained 273 points or 0.76 per cent to 36,246 in opening trade and Nifty moved 68 points or 0.63 per cent higher to 10,904.
India struck Jaish-e-Mohammed's (JeM) biggest camp in Pakistan in a major "pre-emptive" action killing a large number of terrorists and trainers of the Pak-based terror group preparing to carry out suicide attacks in this country, a top official said.
On the BSE index, Sun Pharma, Yes Bank, Bajaj Auto, Mahindra & Mahindra, Asian Paints and Tata Motors were among the major gainers with their stocks rising as much as 2.86 per cent. On NSE, except for Nifty IT, all other sub-indices were trading in green with Nifty Auto and Pharma leading the pack by climbing as much as 1.37 per cent.
Brokers said continued pumping of investments by foreign funds and fresh spell of buying by domestic investors amid a firm trend at other Asian bourses led the markets higher.
Besides, covering-up of short positions by speculators ahead of February month expiry in the derivatives segment on Thursday, too supported the upside in select stocks, they added.
Asian shares edged higher and the dollar fell to a three-week low after Federal Reserve chairman Jerome Powell reinforced the US central bank's recent shift towards a more "patient" approach on policy in the face of a slowing economy.
The Fed is in "no rush to make a judgment" about further changes to interest rates, Powell told US lawmakers on Tuesday as he spelled out the central bank's approach to an economy that is likely slowing.
Investors will be keeping an eye on the US-North Korean summit, scheduled to kickoff in Hanoi later on Wednesday. US President Donald Trump and North Korean leader Kim Jong Un were due to meet for their second summit, betting that their personal relationship can break a stalemate over the North's nuclear weapons and end more than 70 years of hostility.
(With agency inputs)
The 30-share BSE index had gained 273 points or 0.76 per cent to 36,246 in opening trade and Nifty moved 68 points or 0.63 per cent higher to 10,904.
Mirage 2000, fighter jet used in first airstrike inside Pakistan after 1971 war: Key facts
India currently has around three squadrons of Mirage 2000 fighter jets manufactured by French aerospace major Dassault Aviation. The squadrons are based in Gwalior. The government sources said the Mirage 2000 multi-role aircraft was chosen for the strike for its capability to hit targets with "pin-point" accuracy.
India struck Jaish-e-Mohammed's (JeM) biggest camp in Pakistan in a major "pre-emptive" action killing a large number of terrorists and trainers of the Pak-based terror group preparing to carry out suicide attacks in this country, a top official said.
On the BSE index, Sun Pharma, Yes Bank, Bajaj Auto, Mahindra & Mahindra, Asian Paints and Tata Motors were among the major gainers with their stocks rising as much as 2.86 per cent. On NSE, except for Nifty IT, all other sub-indices were trading in green with Nifty Auto and Pharma leading the pack by climbing as much as 1.37 per cent.
Brokers said continued pumping of investments by foreign funds and fresh spell of buying by domestic investors amid a firm trend at other Asian bourses led the markets higher.
Besides, covering-up of short positions by speculators ahead of February month expiry in the derivatives segment on Thursday, too supported the upside in select stocks, they added.
Asian shares edged higher and the dollar fell to a three-week low after Federal Reserve chairman Jerome Powell reinforced the US central bank's recent shift towards a more "patient" approach on policy in the face of a slowing economy.
The Fed is in "no rush to make a judgment" about further changes to interest rates, Powell told US lawmakers on Tuesday as he spelled out the central bank's approach to an economy that is likely slowing.
Investors will be keeping an eye on the US-North Korean summit, scheduled to kickoff in Hanoi later on Wednesday. US President Donald Trump and North Korean leader Kim Jong Un were due to meet for their second summit, betting that their personal relationship can break a stalemate over the North's nuclear weapons and end more than 70 years of hostility.
(With agency inputs)
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