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Stock market rally continues, Sensex above 32,000

Retail investors and domestic financial institutions built up positions ahead of release of data sets of IIP for August and inflation for September, to be released on Thursday.

business Updated: Oct 11, 2017 10:31 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
Sensex,Stock market,Retail investors
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reiters File Photo)

The stock market got on to the front foot today as the benchmark Sensex reclaimed the 32,000 -mark by jumping over 104 points after domestic investors pressed on with buying amid strong global cues.

Retail investors and domestic financial institutions built up positions ahead of release of data sets of IIP for August and inflation for September, to be released on Thursday.

An appreciating rupee created positive vibes.

Extending its rally, the 30-share Sensex was up 104.02 points, or 0.32%, at 32,028.43. Realty, oil and gas and power stocks rose up to 1.06%.

The gauge had gained 332.38 points in the previous three sessions.

Also, the NSE Nifty traded at 10,057.45, higher by 40.50 points or 0.40%.

Positive leads from other Asian bourses and investors tracking another record on Wall Street supported the upmove, traders said.

In the Sensex kitty, Bharti Airtel emerged as the top gainer, surging by 4.32% to Rs 400.65. Reliance Industries too rose 1.54% to Rs 856.35 ahead of its second quarter earnings later this week.

Other gainers were Axis Bank, M&M, NTPC and Bajaj Auto.

Japan’s Nikkei was up 0.22% and Shanghai Composite rose 0.23% in their early trading. Hong Kong’s Hang Seng too edged up by 0.46%.

US Dow Jones Industrial Average had surged 0.31% to close at a fresh record high yesterday.

First Published: Oct 11, 2017 10:30 IST