Gains in HDFC and HDFC Bank and support from FMCG companies fuelled up the key indices Sensex and Nifty today. The Indian rupee also jumped in the early trade today after closing 22 paise higher in yesterday's trade.
Sensex and Nifty traded higher in the morning trade on Wednesday on the back of positive global cues triggered by the record closing in the US stock market. The benchmark Sensex gained 146.14 points to hit the day’s high at 33,624.49 while the broader Nifty 50 index jumped 41.8 points to mark the day’s high at 10,368.7. Early gains in HDFC and HDFC Bank and support from FMCG companies fuelled up the key indices Sensex and Nifty today. BSE Sensex gained 90.72 points or 0.27% to open at 33,569.07 whereas NSE Nifty added 23.9 points or 0.23% to start at 10,350.8 today.
Shares of Adani Ports, M&M, Bajaj Auto, HDFC, Asian Paints and TCS gained up to 2.1%. On the other hand, Dr Reddy’s, Airtel, Sun Pharma, Axis Bank, SBI lost up to 1.2%. The Indian rupee also gained in the early trade today after closing 22 paise higher in yesterday’s trade. The domestic currency further added 14 paise to 64.75 against the US dollar.
Asian shares also joined a global rally, rising to a fresh decade peak in the early trade today while oil prices jumped on expectations of a production cut. Among regional markets, the Shanghai Composite Index rose 0.5% to 3,427.66 and Tokyo’s Nikkei 225 gained 0.7% to 22,579.18. Hong Kong’s Hang Seng advanced 0.9% to 30,087.73 and Sydney’s S&P-ASX 200 added 0.6% to 5,996.90. Seoul’s Kospi climbed 0.4% to 2,540.66
US stocks jumped on Tuesday, pushing all three major indexes to record closing highs, led by gains in this year’s top-performing technology sector, Reuters reported. The S&P technology index gained 1.2% helped by a nearly 1.9% rise in Apple. The Dow Jones Industrial Average rose 160.5 points or 0.69% to 23,590.83, the S&P 500 gained 16.89 points or 0.65% to 2,599.03 and the Nasdaq Composite added 71.76 points or 1.06% to 6,862.48. Technology shares, including Apple, Amazon, Facebook and Google parent Alphabet jumped over 1%.