Sensex closes over 200 points higher after US-North Korea summit; investors await IIP, CPI data

By: | Published: June 12, 2018 4:25 PM

The Sensex closed 209.05 points or 0.59 per cent higher at 35,692.52 points, while the NSE Nifty rose by 55.90 points or 0.52 per cent to close Tuesday's trade at 10,842.85 points.

The BSE Sensex closed Tuesday’s trade over 200 points higher amid positive global cues.

The BSE Sensex closed Tuesday’s trade over 200 points higher amid positive global cues. According to market observers, investors now awaited the release of key macroeconomic data later in the evening — the Consumer Price Inflation (CPI) and Index of Industrial Production (IIP). The Nifty too surged over 50 points and closed trade firmly over the crucial 10,800-mark. Healthy buying was witnessesd across all sectors on the BSE — barring the metals and telecom indices — led by healthcare, capital goods and banking stocks.

On Tuesday, the Sensex closed at an over four-month high at 35,692.52 points, rising by 209.05 points or 0.59 per cent. The index surged almost 260 points to hit an intra-day high of 35,743.08 points. The NSE Nifty rose by 55.90 points or 0.52 per cent to close Tuesday’s trade at 10,842.85 points. According to Vinod Nair, Head of Research, Geojit Financial Services Ltd, equity markets closed higher supported by positive outcome from the US-North Korea summit. “However, global market remains mixed ahead of Fed, ECB and BoJ policy meeting during the week. Back home, investors are also keen on today’s CPI and IIP data to get a provisional direction,” Nair said.

Out of 2,806 trading companies on the BSE, 1,441 were in advances and 1,222 were in declining trend indicating a bullish sentiment in the market. Among the top gainers on the BSE were Dr Reddy’s Lab, State Bank of India, IndusInd Bank, Hindustan Unilever and Hero MotoCorp. The losers included Bharti Airtel, Tata Steel, Coal India, ONGC and Yes Bank. Global stocks edged higher on Tuesday after the much anticipated U.S.-North Korea summit, while the dollar turned negative after hitting a three-week high, Reuters reported.

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