Market Opens Nearly 350 Points Higher On Strong Global Cues

Indian markets were trading on a positive note during the morning trading session mirroring strength in global peers as sluggish US jobs data eased fears of a rate hike by the US Federal Reserve this year.

Market Opens Nearly 350 Points Higher On Strong Global Cues
Indices
Sensex28,292.81Sensex Quote69.11 [0.24%]
Nifty8,745.15Nifty Quote38.75 [0.45%]

Meanwhile, a higher-than-expected interest rate cut by the Reserve Bank of India (RBI) last week continues to cheer the street. Investors will watch out for India's services PMI for September 2015 scheduled for release tomorrow.

At 9:27AM BSE SENSEX was at 26568.23, up by 347.28 points or by 1.32 per cent and then NSE Nifty was at 8032.95, up by 82.05 points or by 1.03 per cent.

The BSE MIDCAP was at 10934.57, up by 115.89 points or by 1.07 per cent while the BSE SMLCAP was at 11145.23, up by 102.63 points or by 0.93 per cent.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 313.00,+5.39 per cent), Housing Development Finance Corporation Ltd. (Rs. 1232.60,+2.78 per cent), Tata Consultancy Services Ltd. (Rs. 2709.00,+2.63 per cent), ICICI Bank Ltd. (Rs. 273.10,+2.15 per cent), NTPC Ltd. (Rs. 126.35,+2.14 per cent), among others.

The top losers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 4507.00,-1.59 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 4183.55,-1.10 per cent), Vedanta Ltd. (Rs. 83.15,-0.48 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 231.25,-0.45 per cent), Coal India Ltd. (Rs. 327.20,-0.30 per cent), among others.

The top gainers of the NSE Nifty pack were Tata Motors Ltd. (Rs. 309.50,+3.95 per cent), Tata Consultancy Services Ltd. (Rs. 2744.25,+3.77 per cent), Housing Development Finance Corporation Ltd. (Rs. 1229.50,+2.75 per cent), ICICI Bank Ltd. (Rs. 273.55,+2.41 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 312.30,+2.38 per cent), among others.

The top losers of the NSE Nifty pack were Oil And Natural Gas Corporation Ltd. (Rs. 229.65,-1.16 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 4196.95,-0.85 per cent), Maruti Suzuki India Ltd. (Rs. 4541.45,-0.85 per cent), ITC Ltd. (Rs. 327.20,-0.47 per cent), Hindustan Unilever Ltd. (Rs. 813.40,-0.37 per cent), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 1428, shares advanced were 1142 while 247 shares declined and 39 were unchanged.

Among the sectoral indices on BSE, BSE_CGS index was at 15467.3, up by 245 points or by 1.61 per cent led by Siemens Ltd. (Rs. 1370.50,+2.01 per cent), Larsen & Toubro Ltd. (Rs. 1518.50,+1.96 per cent), Suzlon Energy Ltd. (Rs. 21.70,+1.88 per cent), AIA Engineering Ltd. (Rs. 986.30,+1.87 per cent), IL&FS Transportation Networks Ltd. (Rs. 100.85,+1.77 per cent).

Globally, Asian stocks rallied as speculation of a possible interest rate hike by the Federal Reserve in 2015 waned on the back of sluggish US jobs data. Tracking gains on the Wall Street, Japan"s Nikkei and Hong Kong"s Hang Seng rose 1.5 per cent and 1.7 per cent each, respectively.

Story first published: Monday, October 5, 2015, 10:00 [IST]
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