Sensex Trades Higher Even As Global Cues Remain Bearish

Posted By:

Benchmark indices once again rallied in early morning trade, as global cues were largely weak, as crude prices dropped.

Most of the markets across Asia were weak, ahead of the US jobs data. In fact, the data would be key to watch, to see if the US would hike interest rates. Most analyst believe that an interest rate hike in the US is possible in Sept itself, should the US jobs data come in strong enough.

Sensex Trades Higher Even As Global Cues Remain Bearish
The Sensex was trading with gains of 63 points, while the Nifty rallied 14 points in trade. Analysts believe that there is tremendous amount of liquidity, which is driving stocks higher, though valuations now look a little stretched.

Read more on reliance car insurance here

Shares that gained in early morning trade were ITC, ICICI Bank and Tata Motors. Shares that lost ground were ONGC, which fell modestly on a drop in crude prices.

Shares in Reliance Industries were marginally down ahead of the company's annual general body meeting. Investors are likely to await an update on Reliance's 4G plans.

Shares in Welspun India, which has been witnessing a sustained fall in the last few sessions, finally bounced back and was trading with 2 per cent gains.

Meanwhile, the rupee opened at 66.98 to the US dollar.

Read more about: sensex, nifty
Story first published: Thursday, September 1, 2016, 9:36 [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?