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Sensex higher by 373 points, Nifty above 10,850
The benchmark Sensex retreated from initial record level to trade at 35,455.70, up by 373.88 points, in late morning deals led by banks, financials, FMCG, capital goods, auto and industrial sectors amid higher Asian cues.
By
migrator
migrator
Mumbai
Earlier the key indices zoomed to fresh record highs to mark 35,486.72 by rallying over 400 points.
Upbeat sentiment ruled the momentum over surging global peers on strong global growth prospects.
Banking and private-lenders extended its rally on easing fiscal deficit concerns, after the government cut additional borrowing requirement to Rs 200 billion from Rs 500 billion notified earlier.
Metal, IT, Oil & Gas, Teck and Realty saw profit-booking after its recent continous gains.
The benchmark BSE Sensex gained 373.88 points or 1.07 per cent to trade at 35,455.70 at 10:50 hrs. The broader Nifty was also trading higher by 82.40 points or 0.76 per cent at 10,870.95.
Major gainers were YesBank 3.08 per cent, IndusindBk 2.83 per cent, ITC 2.82 per cent, HDFC Bank 2.67 per cent and HDFC 2.49 per cent.-
Losers include Tata Steel 1.57 per cent, Infy 1.17 per cent, Wipro 0.78 per cent, Coal India 0.57 per cent and Asian Paint 0.48 per cent.
Foreign portfolio investors (FPIs) bought shares worth Rs 625.13 crore on net basis while domestic institutional investors (DIIs) also bought equities to the tune of Rs 168.61 crore yesterday, provisional data showed.
Asian markets extended this year's stellar run, following their US counterparts amid optimism for global growth.
US stocks rose to fresh highs yesterday as companies continued to indicate the tax overhaul will boost earnings this year.
Rupee up 2 paise against US dollar The rupee pared its early gains, while quoting higher by 2 paise at 63.86 against the American currency on sustained bouts of dollar selling by banks and exporters.
The rupee opened higher at 63.85 as against yesterday's closing level of 63.88 at the inter-bank foreign exchange here.
The Indian unit witnessed volatility and hovered between a high of 63.8175 and low of 63.95 per dollar during morning trade, it was quoting at 63.86 at 10:30 hrs.
"Surging domestic equities marking new highs supporting the rupee sentiment", a dealer said.
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