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Sensex Higher As Asian Markets Gain On Solid US Jobs Data


Benchmark indices opened the day higher after solid US Jobs data from the US fuelled a rally across the Asian markets.


The Japanese Nikkei was leading gainers in Asia, even as the South Korean Kospi and the Hang Sang were trading lower.

Sensex Higher As Asian Markets Gain On Solid US Jobs Data
US jobs data showed that 255,000 jobs were created for the month of July as against expectations of 190,000.

The Sensex opened the day with gains of 130 points, while the Nifty rallied 30 points in trade. Early gainers from the Nifty were BPCL, Hindalco and Maruti.

Shares in Idea Cellular and NTPC were the biggest losers from the Nifty in early trade. Individual stocks reacted to a poor set of earnings. Union Bank, which reported a sharp drop in net profits in Saturday, saw its share price drop by almost 4 per cent.

Andhra Bank too saw heavy losses and the share price fell by 3.50 per cent weighed down by a rise in non performing assets. This Bank too reported numbers on Saturday.

Shares that were the likely beneficiaries from the passage of the GST Bill in the Rajya Sabha, saw some drop. PVR and Inox both saw profit booking in early trade.


Meanwhile, the rupee opened the day at 66.85 to the dollar. The currency is expected to be a little volatile ahead of the RBI's Monetary Policy on Tuesday.

Read more about: sensex nifty
Story first published: Monday, August 8, 2016, 9:40 [IST]
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