Sensex jumps 151 points on positive global cues, hopes of faster economic reforms

The benchmark BSE Sensex was trading higher by over 150 points as participants indulged in enlarging positions on positive global cues and on hopes of faster economic reforms by the government and optimism over the forthcoming Budget.

At 10.15 a.m., the 30-share BSE index Sensex was trading higher by 151.29 points or 0.52 per cent at 29,287.17 and the 50-share NSE index Nifty was trading up by 40.25 points or 0.46 per cent at 8,849.60.

Among BSE sectoral indices, capital goods index gained the most by 1.3 per cent, followed by FMCG 1.00 per cent, power 0.98 per cent and realty 0.76 per cent. On the other hand, metal index was down 0.4 per cent, TECk 0.39 per cent, IT 0.29 per cent and infrastructure 0.13 per cent.

Small- and mid-cap indices were in the green as well. The biggest mover was Suzlon (at Rs 26.85), which expects to see an influx of cash by Sun Pharma promoter Dilip Sanghvi.

On the Nifty, HDFC gained by Rs 30 to trade at Rs 1,318, PNB was at Rs 169 and Tata Power at Rs 85. Hero MotoCorp was down Rs 111 at Rs 2,693, Bharti Airtel lost nearly Rs 8 to trade at Rs 353, while Sesa Sterlite and NMDC registered losses as well.

Volatility Index India Vix was up 2.65 per cent, at 21.3775.

The equity markets opened in the green, buoyed by positive global sentiment on Greece reaching an agreement with its creditors. Asian markets were up as well, with Shanghai Composite Index and Hang Seng making early gains.

The Sensex rose 105.68 points or 0.36 per cent at 29,241.56 in early trade with the stocks of FMCG, realty, capital goods, consumer durables, power, bank and healthcare sectors, leading the rise.

It had gained 908.46 points in the previous five sessions.

Also, the National Stock Exchange index Nifty edged higher by 31.60 points or 0.35 per cent at 8,840.95.

Brokers said optimistic buying by participants ahead of the Budget and acceleration in economic reforms by the government, led to the rise.

Further, a firm trend in other Asian markets on hopes of a settlement in Greece’s debt stand-off after it emerged that the country will ask for an extension to its bailout and avoid a painful euro zone exit, influenced the trading sentiment here, they added.

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