Sensex Goes Up 160 Pts on Reforms, F&O Expiry

Mumbai
Sensex Goes Up 160 Pts on Reforms, F&O Expiry
File-PTI Photo by Santosh Hirlekar
Sensex Goes Up 160 Pts on Reforms, F&O Expiry
outlookindia.com
1970-01-01T05:30:00+0530

The Sensex headed up today surging 160 points as investors welcomed the Cabinet's decision to give 'in-principle' nod to disinvestment of Air India, a sign the government is not shying away from bold reforms.

A firm trend in Asia brought risk appetite back.

Speculators went about covering their short positions in anticipation of more reforms, today being the expiry of June futures and options derivative contracts.

The 30-share index, which had lost 456.42 points in the previous three sessions, rose 159.85 points, or 0.51 per cent, to 30,994.17.

All sectors were in the green. Realty, metal and capital goods led the upmove, with gains of up to 1.16 per cent.

The NSE Nifty too went higher by 47.10 points, or 0.50 per cent, to 9,538.35.

Traders said market sentiment improved largely in line with a better trend at other Asian markets, reflecting overnight gains on Wall Street.

A fresh spell of buying by domestic and retail investors after selling shares for several sessions and recovery in the rupee contributed to the lift.

Axis Bank, Bharti Airtel, Tata Steel, M&M and L&T stayed in the lead, rising by up to 3.07 per cent.

Globally, Hong Kong's Hang Seng was up 0.81 per cent, Japan's Nikkei 0.54 per cent and Shanghai Composite 0.21 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.68 per cent up yesterday.

READ MORE IN:
Next Story : India Launches Communication Satellite GSAT-17 From French Guiana
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
Online Casino Betway Banner



Advertisement