BSE Sensex up 68 points as IT stocks gain on weak Indian rupee

Written by PTI | Mumbai | Updated: Sep 18 2013, 17:11pm hrs
Coal IndiaRBI and FinMin considering 'funding for lending' scheme to enable cheaper auto, realty loans. Reuters
The BSE Sensex rose 68 points in early trade today, extending gains for the third straight session on sustained buying by funds in select bluechips, amid a firm trend in the Asian region.

The 30-share index, which had gained 71.28 points in the previous two sessions, rose further by 67.56 points, or 0.34 per cent, to 19,871.59 points on the back of gains in IT, metal, auto and FMCG sector stocks.

Similarly, the Nifty moved up by 18.85 points, or 0.32 per cent, to 5,869.05 points.

Brokers said sustained buying by funds amid a firm trend in other Asian bourses, as investors await the outcome of the US Federal Reserve meeting, mainly boosted the trading sentiment.

IT stocks such as Tata Consultancy Services, Wipro and HCL Technologies remained in demand as the rupee weakened further against the dollar.

Among other Asian markets, Hong Kong's Hang Seng index rose by 0.14 per cent, while Japan's Nikkei gained 0.70 per cent.

The US Dow Jones Industrial Average ended 0.23 per cent higher in yesterday's trade.

Indian shares to watch: Coal India, Dr Reddys Laboratories


Nifty futures on the Singapore Exchange are up 0.1 percent, while the MSCI-Asia Pacific index excluding Japan falls 0.25 percent. India's Finance Minister P. Chidambaram will speak at a conference on G20, at 9.30 IST (0400 GMT), organised by ICRIER, a Delhi based think tank in collaboration with the World Bank.


State-run miner Coal India holds its annual shareholding meeting in Kolkata.

*Search: India Inc

RBI acts tough on offshore FX trading on the internet

Govt to unveil fresh austerity steps

India hikes import duty on gold jewellery to 15 percent

Dr Reddys Laboratories gains after FDA nod for anti-cancer drug

GMR sells $35 mln highway stake to slash debt

India's gross borrowing of 6.29 trln in FY14 to include debt switch - sources India cbank tightens rules for lending against gold

RBI and FinMin considering 'funding for lending' scheme to enable cheaper auto, realty loans

Weaker currencies pile up debt risks at Indian, Turkish companies

Analysts say Infosys 3.0 needs two-pronged lift to meet revenue targets -

NSEL investors to move Economic Offences Wing

Sebi puts riders on Holcim deal

High court gives Mallya a week to submit details on UB-Diageo deal

Nandan Nilekani likely to contest a Lok Sabha seat from Karnataka on Congress ticket

Polaris Financial Technologies in talks with NEC to sell IT services unit

India, US end three-year-old deadlock; to talk tax issues again

DoT panel recommends mass solar cell towers for BSNL

Government plans to set up panel to track execution of expressway projects

IDFC infra fund gets $644 mln commitment

YES Bank raises $257 mln in foreign currency loan

Investors may get exit option if promoters misuse issue proceeds

Trai hasn't given telcos $11.07 billion SUC bonanza


Asian markets held their breath on Wednesday as investors counted on the Federal Reserve to launch only a modest scaling back of stimulus later in the day, with all assets vulnerable to any hint of hawkishness from the world's most powerful central bank.

U.S. stocks advanced on Tuesday on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting.