STOCK MARKET

Stock Market Update: Sensex Reclaims 60,000 Mark for First Time Since April 5; Nifty Above 17,900

Mumbai: After a gap of nearly four months, equity benchmarks on Wednesday equity markets opened in the green amid mixed global cues and softening crude oil prices. The equity continued to trade higher, with the Sensex breaching the crucial 60,000 mark in early trade amid positive global trends and persistent foreign fund inflows. The 30-share BSE benchmark index was trading 141.62 points higher at 59,983.83 in early deals. Soon, it jumped to 60,008.11 points, higher by 165.9 points. The broader NSE Nifty climbed 48.25 points to 17,873.50 points.

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From the Sensex pack, NTPC, Hindustan Unilever, Bajaj Finance, Asian Paints, UltraTech Cement, Reliance Industries and Bajaj Finserv were the biggest gainers.

On the other hand, Tata Consultancy Services, Infosys, HDFC and HDFC Bank were among the laggards. In Asia, markets in Tokyo, Shanghai and Hong Kong quoted higher while Seoul was trading lower in mid-session deals. Markets on Wall Street had ended mostly higher on Tuesday.

The BSE benchmark index advanced 379.43 points or 0.64 per cent to settle at 59,842.21 points on Tuesday. The Nifty climbed 127.10 points or 0.72 per cent to 17,825.25 points.

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Meanwhile, the international oil benchmark Brent crude was trading 0.5 per cent higher at USD 92.83 per barrel.

Foreign Institutional Investors (FIIs) were net buyers in the Indian capital market as they bought shares worth Rs 1,376.84 crore on Tuesday, according to exchange data.

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Prashanth Tapse – Research Analyst, Senior VP (Research) at Mehta Equities Ltd, said that helping investor sentiments will be the bullish FIIs who have bought shares to the tune of Rs 16,219 crore so far in August.

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