Sensex jumps 150 pts, Nifty50 tops 10,350; Tata Motors up 2%

NEW DELHI: Domestic equity benchmarks Sensex and Nifty opened in the green on Wednesday amid rupee's rise against the US dollar and a dip in global crude oil prices.

The domestic currency on Wednesday opened 26 paise up at 74.13 against the dollar tracking overnight losses in the American currency amid a buzz in markets that the RBI and the government may raise dollars from non-resident Indians.

Market also cheered RBI's announcment that it will inject liquidity of Rs 12,000 crore into the system through purchase of government bonds on Thursday to meet the festival season demand for funds.


Investors got a leg up from the optimism around corporate earnings for Septemeber quarter. Uttam Galva Steels, Zee Entertainment, Bandhan Bank and Indiabulls Ventures are four BSE-listed firms which will announce their quarterly results today.

At 9:25 am, the BSE Sensex was 172 points, or 0.50 per cent up at 34,471. The Nifty50 index was 54 points, or 0.53 per cent, up at 10,355.

Midcaps and smallcaps were outperforming Sensex at that time, rising up to 1 per cent.

Auto, metal, bank and energy stocks were among the top contributors to the rally in Sensex.

However, IT and FMCG heavyweights were among top drags.

Hero MotoCorp, Vedanta, Tata Motors, Bharti Airtel and Bajaj Auto were leading among Sensex gainers.

Infosys, Hindustan Unilever, YES Bank, Wipro, TCS and ITC were among the losers in the Sensex kitty of stocks.

Among the sectoral indices, FMCG, IT and teck were in the red on BSE. Telecom, healthcare, energy, metal and oil & gas indices were trading over 1 per cent higher.

HEG, Shivalik Rasayan, Ganges Securities, Rishiroop, Goa Carbon, Khaitan (India) and Indo Tech Transformers jumped over 15 per cent on BSE.

As per Reuters, oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned towards Florida.

Asian shares were mixed after global stocks hit eight-week lows on Tuesday on worries about global economic growth.