INSUBCONTINENT EXCLUSIVE:
Benchmark equity indices BSE Sensex and NSE Nifty extended their gains for a second straight session on Friday after CPI-based inflation
came in at 10-month low of 3.69 per cent for August amid positive global cues.
The 30-share Sensex settled 372.68 points, or 0.99 per cent,
up at 38,090.64, while the 50-share Nifty index closed at 11,515.20, up 145.30 points, or 1.28 per cent, against its previous close of
11,369.90.
Market sentiment also got a boost after the rupee rebounded from its low against the dollar as the government on Wednesday
assured that all steps would be taken to ensure the domestic currency does not depreciate to unreasonable levels
The local currency was hovering nearly 23 points up at 71.96 against the US dollar in the late afternoon trade.
Jayant Manglik, President,
It opened gap up and gradually moved higher as the session progressed
Indications are in the favour of consolidation ahead thus traders should focus on stock specific trading approach and prefer hedged
Stanley raised the Sensex target for September 2019 to 42,000-mark citing earning cycle is at the cusp of turning now.
As many as 45 stocks
in the Nifty index closed in green with Indiabulls Housing Finance gaining nearly 7 per cent, followed by BPCL (up 6.31 per cent), Bajaj
Finserv (up 5.65 per cent), HPCL (up 5.59 per cent) and Vedanta (up 5.10 per cent)
On the other hand, HCL Tech, Coal India, Infosys and GAIL declined between 0.15 per cent and 1.52 per cent
Sectorwise, the BSE Realty, power and consumer durables index gained 3.29 per cent, 2.55 per cent and 2.26 per cent
Other sectoral indices on the BSE also ended in green
Asian peers mostly ended higher after reports that the US and China might hold a fresh round of trade talks
Hang Seng and Nikkei 225 advanced over 1 per cent each, while Shanghai Composite slipped 0.18 per cent.
