Sensex rises over 100 points, Nifty nears 10,200

The benchmark BSE Sensex rose over 100 points in early trade on Thursday, extending gains for the third session, after US Federal Reserve announced the widely-expected hike in key lending rate.

The 30-share index was trading 125.40 points, or 0.38%, higher at 33,261.58 at 10.45 am. The gauge had gained 213.06 points in the previous two sessions. The wider NSE Nifty 50 was trading higher by 0.33% or 33.70 points at 10,188.95 at 10.45 am.

Sectoral indices, led by consumer durables, energy, FMCG, finance and oil and gas gained up to 0.71%

Major gainers that supported the uptrend were ONGC, Sun Pharma, Tata Motors, Reliance Industries, HDFC and HDFC Bank, rising up to 2.42%.

Brokers said sustained foreign fund inflows, increased buying by domestic institutional investors (DIIs) and a mixed trend in other Asian bourses, after the Fed rate hike, influenced the market.

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An appreciating rupee against the dollar also supported investor sentiment, they said.

Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth Rs 98.44 crore, while DIIs purchases equities to the tune of Rs 197.78 crore on Wednesday, provisional data showed.

Among other Asian markets, Japan’s Nikkei was trading higher by 0.38%, while Hong Kong’s Hang Seng fell 0.61% in their early deals. The Shanghai Composite index was down by 0.93%.

The US Dow Jones Industrial Average ended 0.18% lower in yesterday’s trade.

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--PTI