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Updated January 11th, 2024 at 09:39 IST

Sensex rises over 300 points, Nifty reclaims 21,700 led by Reliance

All the 13 sector gauges, barring the index of IT shares, were trading higher led by the Nifty Consumer Durable index's 1.25% gain.

Abhishek Vasudev
Sensex
Sensex | Image:Republic
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Sensex rises: The Indian equity benchmarks edged higher on Thursday ahead of weekly expiry of Nifty 50 derivative contracts amid positive cues from other Asian markets. The Sensex rose as much as 342 points and Nifty 50 index reclaimed its important psychological level of 21,700 led by gains in Reliance Industries, Axis Bank, HDFC Bank, Bharti Airtel, ICICI Bank and ITC.

As of 9:25 am, the Sensex was up 258 points at 71,915 and Nifty 50 index advanced 74 points to 21,693.

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Japan's Nikkei share average, on Thursday, reached its highest since February 1990, as a weaker yen buoyed exporters and caution over an impending hike by the Bank of Japan continued to fade on the back of weak wage data.

The Nikkei was up 1.94 per cent at 35,110.52 by the mid-day close. The index is on track for a third straight day of gains and closing in on its largest weekly rise since late March 2020.

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China's Shanghai Composite rose 0.1 per cent, Hong Kong's Hang Seng rose 1.47 per cent and South Korea's KOSPI advanced 0.2 per cent.

Back home, buying was visible across board as all the 13 sector gauges, barring the index of IT shares, were trading higher led by the Nifty Consumer Durable index's 1.25 per cent gain. Nifty Oil & Gas, private Bank, PSU Bank, Metal, Financial Services, Auto and Bank indices also rose between 0.6-1 per cent.

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Mid- and small-cap shares were also witnessing buying interest as Nifty Midcap 100 index rose 0.65 per cent and Nifty Smallcap 100 index rose 0.57 per cent.

Hero MotoCorp was top Nifty gainer, the stock rose 2.85 per cent to Rs 4,255. Axis Bank, Eicher Motors, Bajaj Finserv, Reliance Industries, NTPC, IndusInd Bank, HDFC Life and Bajaj Finance also rose between 1-1.4 per cent.

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On the flipside, Dr Reddy's Labs, Infosys, HCL Technologies and Sun Pharma were among the notable losers.

The overall market breadth was extremely positive as 2,339 shares were advancing while 637 were declining on the BSE.

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(With Reuters inputs)
 

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Published January 11th, 2024 at 09:39 IST

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