INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Not much changed for Indian equity market overnight as the equity benchmarks Sensex and Nifty witnessed a gap-up opening on
Tuesday, a day after logging healthy gains due to across the board buying.
Indian equities, which is already going through the phase of a
pre-election rally, got a boost from positive global sentiment after the European Commission agreed to changes in a Brexit deal.
Investors
continued their buying spree ahead of key macroeconomic prints, including IIP (Index of Industrial Production) data for January and CPI
(consumer price index) prints for February.
Healthy buying by foreign portfolio investors (FPIs) is infusing confidence in the market,
Foreign portfolio investors (FPIs) bought Rs 3,810.60 crore worth of domestic stocks on Monday, data available with NSE suggested.
Rupee's
rise is another factor helping markets in maintaining the positive sentiment
The domestic unit extended its upward movement against the US dollar and rose to a two-month high today after the US dollar weakened as
overall risk appetite improved amid stabilized equity market
Sensex jumped over 460 points and Nifty topped 11,300 within the first two hours of trade
Around 11:15 am, the BSE Sensex was 441 points, or 1.19 per cent, up at 37,495, while the NSE Nifty50 was 130 points, or 1.16 per cent, up
at 11,298.
Midcaps and smallcaps rose in sync with the benchmarks
The BSE Midcap and Smallcap indices were up 1.06 per cent and 1.29 per cent, respectively, around that time
Only three stocks - Hero MotoCorp (down 0.47 per cent), Infosys (down 0.42 per cent) and Bajaj Auto (down 0.25 per cent)- were in the red
Larsen Touobro, Bharti Airtel and ICICI Bank jumped over 3 per cent each
Power Grid, Sun Pharma, Reliance Industries and Vedanta also were among the top gainers
