Sensex Ends Higher As Global Markets Await US Jobs Data

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Friday, September 2, 2016, 15:31 [IST]

The Sensex ended the day higher, ignoring the tentative nature of the global markets, ahead of key US jobs data.

Markets discounted fears that a solid US jobs data would lead to a US Fed interest rate hike shortly. The Sensex ended the day higher by 108 points, while the Nifty closed higher by 35 points.

Leading the set of gainers in trade was Bharti Airtel, which rallied, despite reports that the launch of Reliance Jio may add pressure on margins for telecom majors.

Idea Cellular, which fell as much as 2 per cent in trade, gained ground and ended the day higher on a short covering rally. Tata Motors had a fine run, after the company reported good volume growth for the month of Sept.

Hero Motor Corp too had a good run with the stock hitting a lifetime high in trade. Most of the Nifty stocks ended with gains, except Infosys, which saw some selling pressure and ended the day lower. Hindustan Unilever too saw some selling pressure in early trade.

Welspun India, which has fallen from levels of Rs 108, a few weeks ago to almost Rs 47, ended the day at the upper end of the circuit filter for the second day in a row.

Meanwhile, the rupee hit a 2-week low and was last trading at 66.82 too the US dollar.

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