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Nifty at over 15-mth high, Sensex up 104 pts on global cues

Stock brokers in looks at screen outside the BSE

Mumbai : Rising for the third straight session, the NSE Nifty closed at an over 15-month high of 8,711.35 and the BSE Sensex jumped over 104 points to 28,182.57 on firm global cues coupled with optimistic buying by investors ahead of the RBI policy meet tomorrow.

Sentiment remained upbeat throughout the day on account of positive Asian cues and a higher opening in the European stock markets, tracking record closing on the US bourses on Friday on the back of strong jobs data.

The domestic bourses have been witnessing a positive trend since the passage of long-pending Goods and Services Tax (GST) Constitutional Amendment bill by Rajya Sabha last week, brokers said.

Meanwhile, Finance Minister Arun Jaitley moved the bill in Lok Sabha today.

The broader NSE Nifty again went past the 8,700-mark to end at 8,711.35 by surging 28.20 points, or 0.32 per cent, its highest closing since April 15, 2015 — when it had closed at 8,750.20.

The 30-share BSE barometer rose 104.22 points, or 0.37 per cent, to close at 28,182.57. Intra-day, it shuttled between 28,226.38 and 28,128.06. The Sensex has gained 380.84 points in the last two days.

Brokers said even as the Reserve Bank is expected to keep its policy rates unchanged at its review tomorrow, some investors indulged in building up positions, largely in step with a firm trend overseas, contributing major gains to the key indices.

Moreover, country’s largest two-wheeler maker Hero MotoCorp today posting 18.13 per cent jump in standalone net profit at Rs 883.10 crore for the first quarter ended on June 30, 2016, came as a positive.

Out of 30-share Sensex pack, 21 stocks ended higher and 9 finished in the negative terrain.

Major gainers were Adani Ports (2.80 pc), HDFC Ltd (1.70 pc), Reliance Ind (1.49 pc), Dr Reddy’s (1.11 pc), Lupin (1.09 pc), Infosys (1.07 pc), M&M (1.03 pc), Power Grid (0.99 pc), Wipro (0.95 pc) and Maruti Suzuki (0.88 pc).

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 435.63 crore last Friday, as per provisional data released by the stock exchanges.

However, Bharti Airtel tumbled 3.11 per cent, followed by Sun Pharma by 1.12 per cent, NTPC 1.90 per cent, ITC Ltd 0.,58 per cent, Tata Motors 0.46 per cent and ICICI Bank 0.35 per cent.

Among the BSE sectoral indices, oil&gas rose 1.54 per cent, followed by power 0.92 per cent, realty 0.88 per cent, consumer durables 0.75 per cent, auto 0.68 per cent, IT 0.65 per cent and banking 0.06 per cent.

In line with overall trends, broader market too gathered momentum with the BSE mid-cap ending up 0.99 per cent while mid-cap index gained 0.71 per cent.

Asian markets, led by Tokyo closed higher, tracking a strong lead from Wall Street where markets rallied in the wake of strong US jobs data. Japan’s Nikkei rose 2.44 per cent, while Hong Kong’s Hang Seng up 1.57 per cent.

China markets also rose 0.93 per cent despite datas showing that imports and exports both slumped in July in dollar terms — the latest poor figures from the world’s second-largest economy.

European markets also witnessed rise with London’s FTSE climbing 0.27 per cent, France’s Paris CAC 0.53 per cent and Frankfurt’s 0.90 per cent.

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