Sensex rises 1% after oil markets react to Iran deal

  • PTI, Mumbai
  • Updated: Jul 16, 2015 17:06 IST

The benchmark BSE Sensex rose about 1% on Thursday following positive trends by banks and Reliance Industries after oil prices reacted to the Iranian nuclear deal, and fell. The 30-share barometer rose 123.17 points, or 0.44% to 28,321.46.

The gauge had gained 265.39 points in the previous session. Axis Bank, Tata Steel, Bajaj Auto, HDFC Ltd, Sun Pharma, Coal India, Infosys, ICICI Bank, Wipro, ONGC, ITC Ltd, Tata Motors and Dr Reddy were major gainers that supported the index rally.

The NSE Nifty too gained 38.85 points or 0.99% to trade at above the 8,600 mark. Brokers said continued buying by foreign funds and retail investors, tracking a firming trend at other Asian markets after the Greece's parliament approved the austerity plan buoyed trading sentiments.

Besides, the country's trade deficit narrowing to USD 10.8 billion in June as against USD 11.7 billion in same month last year, influenced sentiment, they said.

Among other Asian markets, Japan's Nikkei was up by 0.55 per cent while Hong Kong's Hang Seng rose 0.12 per cent in early trade today. The US Dow Jones Industrial Average, however, ended 0.02% lower than Wednesday.

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