Sensex gains 100 points, Nifty above 11,600 on firm global cues
17 of 30 Sensex stocks traded on a bullish note with ONGC as the lead gainer.
NEW DELHI: Equity markets in India rose on Wednesday morning tracking overnight gains in US stocks. Upbeat earnings helped the Nasdaq and S&P500 indices reach record closing highs on Wall Street.
Other Asian peers too traded in the green. Australian shares gained 0.6 per cent, while Japan's Nikkei stock index was 0.3 per cent higher. Seoul's Kospi was up 0.1 per cent.
At around 9:30 am, BSE sensex was up 127 points or 0.33 per cent at 38,692 while NSE Nifty rose 38 points, or 0.32 per cent to 11,614.
"Nifty’s recent price structure shows breach of short-term ascending trend line support, it can be viewed as short reversal with overhead resistance at play," YES Securities said in a note.
17 of 30 Sensex stocks traded on a bullish note with ONGC (up 2.90 per cent) as the lead gainer. Other stocks that witnessed buying were IndusInd Bank, HDFC, Asian Paints, L&T and Reliance Industries (RIL).
However, shares of Tata Motors shed the most, down 1.62 per cent. Among other losers were Hero MotoCorp, Maruti Suzuki, Vedanta, Sun Pharma and Tata Steel.
HDFC the biggest index contributor.
BSE Midcap lost 0.02 per cent. Although, BSE Smallcap logged soft gains, rising 0.25 per cent.
On the BSE sectoral front, BSE Oil & Gas was the top performer, led by gains in ONGC, IOC and BPCL. BSE Basic materials and Metals lost the most, down 0.64 per cent and 0.56 per cent, respectively.
UltraTech Cement, Indiabulls Housing Finance, Hexaware, ICICI Prudential Life Insurance, Bharti Infratel, M&M Financial, Muthoot Capital, are a few companies which are scheduled to report their March quarter results today.
Other Asian peers too traded in the green. Australian shares gained 0.6 per cent, while Japan's Nikkei stock index was 0.3 per cent higher. Seoul's Kospi was up 0.1 per cent.
At around 9:30 am, BSE sensex was up 127 points or 0.33 per cent at 38,692 while NSE Nifty rose 38 points, or 0.32 per cent to 11,614.
"Nifty’s recent price structure shows breach of short-term ascending trend line support, it can be viewed as short reversal with overhead resistance at play," YES Securities said in a note.
17 of 30 Sensex stocks traded on a bullish note with ONGC (up 2.90 per cent) as the lead gainer. Other stocks that witnessed buying were IndusInd Bank, HDFC, Asian Paints, L&T and Reliance Industries (RIL).
However, shares of Tata Motors shed the most, down 1.62 per cent. Among other losers were Hero MotoCorp, Maruti Suzuki, Vedanta, Sun Pharma and Tata Steel.
HDFC the biggest index contributor.
BSE Midcap lost 0.02 per cent. Although, BSE Smallcap logged soft gains, rising 0.25 per cent.
On the BSE sectoral front, BSE Oil & Gas was the top performer, led by gains in ONGC, IOC and BPCL. BSE Basic materials and Metals lost the most, down 0.64 per cent and 0.56 per cent, respectively.
UltraTech Cement, Indiabulls Housing Finance, Hexaware, ICICI Prudential Life Insurance, Bharti Infratel, M&M Financial, Muthoot Capital, are a few companies which are scheduled to report their March quarter results today.
