Sensex reclaims 40,000; Nifty tops 12,000 level ahead of GDP numbers

NEW DELHI: Domestic markets kicked off June F&O series on a firm note on a sharp fall in crude oil prices and optimism that the continuity of Modi governemnt may bring in strong foreign flows into India.

Trade war worries that plagued other global peers took a back seat.

Markets would closely watch March quarter GDP print and the much awaited portfolio distribution in Modi Cabinet today.


The rupee appreciated by 14 paise to 69.73 against the US dollar as crude oil prices declined to three month low levels.

The BSE benchmark Sensex, at around 9.20 am was trading at 40,100, up 268 points or 0.67 per cent. Nifty50 reclaimed the 12,000-mark and was trading 70.80 or 0.59 per cent at 12,016.


In the 30 pack Sensex, 28 stocks were in the green while only two were in the red.

Asian Paints was the biggest gainer, up around 3.53 per cent. Other gainers included -- Coal India, TCS, L&T, IndusInd Bank and HCL Tech. Each of the stocks rose over 1 per cent each.

On the other hand, NTPC and YES Bank were the only losers, down 0.63 per cent and 0.23 per cent respectively.

Midcaps and Smallcaps made merry, rising 0.50 per cent and 0.28 per cent, respectively.

In the sectoral space, barring utilities, power and realty, all other sectors were in the green. BSE Oil and Gas was the biggest sectoral gainer amid a strong fall in oil prices. Brent crude futures, were at $66.28, down by 59 cents, or 0.9 per cent, from last session's close.

Meanwhile, foreign portfolio investors (FPIs) bought Rs 1,665 crore worth of domestic stocks on Tuesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 1,223 crore, data suggested.

On the earnings front, markets would keep an eye on stocks such as Orchid Pharma, Nitco, MVL, Bombay Potteries & Tiles, Encore Software, Lakhotia Polyesters, Lakshmi Overseas Industries, Nakoda and United Textiles which will report their March quarter results today.