Sensex, NIFTY open marginally higher

credits: The Financial Express

Mumbai, Feb 18: Equity benchmarks Sensex and NIFTY opened on a positive note today. Major gains were tracked in Infosys, Reliance Industries and SBI, despite a weak trend in global markets.

ONGC was the top gainer in Sensex, with a rise of around 3 per cent. It was followed by Tech Mahindra, SBI, Infosys, HCL Tech and Asian Paints. Whereas, M&M, ICICI Bank, Bajaj Finance and Kotak Bank were among the laggards.

The 30-share Bombay Stock Exchange (BSE) index was trading 61.08 points or 0.12 per cent higher at 51,764.91. The broader NSE Nifty was correspondingly quoting 18.20 points or 0.12 per cent up at 15,227.10. Yesterday Sensex fell down to 400.34 points or 0.77 per cent to close at 51,703.83. The broader NSE Nifty tumbled 104.55 points or 0.68 per cent to 15,208.90.

According to exchange data, foreign institutional investors purchased shares worth Rs 1,008.20 crore on Wednesday. This made them the net buyers in the capital market.

According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities look to be modestly positive at the moment.

The earnings for 3QFY21 have been quite encouraging and a large number of companies succeeded to top consensus earnings estimate, he said.

Although, US equities finished mostly lower in the previous session. Dow Jones witnessed its third straight record close. This happened right after the meeting minutes from the January meeting of Federal Open Market Committee (FOMC) echoed Federal Reserve Chair Jerome Powell’s last week of dovish statements.

Elsewhere in Asia, bourses in Shanghai were trading on a positive note in mid-session deals, while those in Hong Kong, Tokyo and Seoul were not.

At the same time, the global oil benchmark Brent crude was trading 1.24 per cent higher at USD 65.14 per barrel.

 

(Source: PTI; Edited by Amrin Naaz)