Sensex Scales Past 28,000 Points As US Indices Hit Record Highs

Posted By:

Benchmark indices were trading higher as global cues remained strong, following major indices in the US hitting record highs.

This lifted sentiments across the Asian region with the Japanese Nikkei, the Hong Kong's Hang Sang and the Korean Kospi trading higher.

Sensex Scales Past 28,000 Points As US Indices Hit Record Highs
Gains in oil and good quarterly numbers from retailers was what boosted sentiments in the US.

Back home, the Sensex was trading with gains of 157 points at 28,018 points, while the Nifty was up 35 points in trade.

State Bank of India was lower ahead of results to be announced later today. The stock was down 0.50 per cent in trade. Investors remain tentative on PSU banking stocks, after Bank of Baroda reported a dismal set of numbers and crashed 9 per cent yesterday. The stock was up 1.5 per cent in trade today and showed some signs of recovery.

Most of the banking stocks were flat in trade, ahead of the CPI data due later today. Should inflation rise, it would curb the RBI's ability to hike interest rates.

Shares in Grasim fell 5 per cent, after a proposed recast with Aditya Birla Nouvo. AB Nuvo will merge itself with Grasim, financial services business will become a separate entity which will get listed.

Meanwhile, mid caps were also tentative with the index almost flat in trade. The rupee opened trade at 66.85 against the US dollar.

Read more about: sensex, nifty
Story first published: Friday, August 12, 2016, 9:37 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?