September 10 (Siliguri Chronicle) – The benchmark Sensex climbed nearly 300 points and the Nifty crossed the 25,250 mark in early trade on Friday, supported by buying in realty and utility stocks.
The 30-share BSE Sensex advanced 299.21 points, or 0.36 per cent, to 82,471.31, while the NSE Nifty rose 70.05 points, or 0.28 per cent, to 25,251.85.
Among the Sensex constituents, Power Grid, Adani Ports, Axis Bank, State Bank of India, NTPC, Asian Paints, ITC, HDFC Bank, Bharat Electronics Ltd, and Titan were the top gainers.
On the other hand, Tata Steel, Tech Mahindra, Bajaj Finance, Mahindra & Mahindra, Sun Pharma, and Bharti Airtel were among the major losers.
IT major Tata Consultancy Services fell over 0.7 per cent despite posting better-than-expected revenue and margin figures for the September quarter.
Foreign Institutional Investors (FIIs) were net buyers on Thursday, purchasing equities worth ₹1,308.16 crore, according to exchange data.
“The overall market environment is turning positive. Domestically, there are indications of a trade deal between US and India with India ‘rebalancing’ its oil purchases. These positive developments and the shift in FII strategy (FIIs were buyers in the cash market in the last three trading days) bode well for the market,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments, said.
Analyst Vijayakumar said that TCS’s stronger-than-expected revenue and margin performance could boost sentiment for IT stocks.
In Asia, markets were mixed, with Hong Kong’s Hang Seng, Tokyo’s Nikkei 225, and Shanghai’s SSE Composite trading lower, while Seoul’s Kospi showed gains.
US markets slipped from record highs to close lower on Thursday.
Global oil benchmark Brent crude fell 0.14 per cent to USD 65.12 a barrel.
On Thursday, the BSE Sensex gained 398.44 points to close at 82,172.10, while the NSE Nifty rose 135.65 points to end at 25,181.80.
