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Sensex Rises Over 150 Points; IT Stocks Lead Gains

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New Delhi: Indian shares opened higher on Thursday as fresh buying was visible in IT, tech, capital goods and healthcare stocks. Buying by domestic institutional investors and strengthening rupee also supported the recovery, brokers said. The BSE Sensex added over 150 points while the NSE Nifty traded nearly 40 points higher. Meanwhile, Asian stocks traded mixed amid caution over US-China trade relations. US stocks closed higher yesterday after minutes from the Federal Reserve’s meeting reassured investors that the central bank will not be too aggressive with raising interest rates.

The 30-share Sensex rose 152.81 points, or 0.44 per cent, to 34,497.72. It had lost 306.33 points in the previous session. The Nifty moved up by 38.15 points, or 0.36 per cent, to 10,468.50.

IT stocks were among the top gainers in the index. Among the Nifty50 stocks, Infosys rose 2.3 per cent to be the top gainer followed by HCL Tech, TCS, Tech Mahindra, which rose over 1.5 per cent each. Axis Bank, HDFC, Bharti Airtel, Sun Pharma, Tata Steel, SBI were the other major gainers in the Nifty.

However, Tata Motors plunged 6 per cent after the company yesterday reported a 49.82 per cent decline in consolidated net profit at Rs 2,176.16 crore for the March quarter with its British arm JLR continuing to face challenges in the UK and Europe, in addition to an one-time impairment charge.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 789.78 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 311.11 crore yesterday, as per provisional data.

Elsewhere in Asia, Hong Kong’s Hang Seng rose 0.32 per cent while Shanghai Composite index was up 0.04 per cent in early trade today. However, Japan’s Nikkei fell 1.10 per cent. The Dow Jones Industrial Average ended 0.21 per cent higher in yesterday’s trade but geopolitical and trade concerns continued to dent investor sentiment.

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