Market rally continues; Sensex tops 32,000 in early trade

Team Udayavani, Sep 12, 2017, 11:13 AM IST

Mumbai :  The BSE benchmark Sensex reclaimed the 32,000-mark by surging about 156 points in early trade today on sustained buying by domestic investors ahead of key macroeconomic data to be released later in the day.

Besides, a firming trend on other Asian bourses fuelled the domestic market sentiment. The 30-share Sensex was up 155.78 points, or 0.48 per cent, higher at 32,037.94 with sectoral indices led by metal, realty, consumer durables, FMCG and capital goods stocks trading in the positive zone.

The gauge had gained 220.19 points in the previous three sessions. Also, the NSE Nifty was trading higher by 50.80 points or 0.50 per cent at 10,056.85. Brokers said that building up of positions by domestic institutional and investors ahead of IIP for July and and inflation data for August — to be released later in the day — also had an influence.

Positive leads from other Asian bourses also supported the upmove, they said. In the Sensex kitty, Tata Steel emerged as top gainer surging by 4.27 per cent to Rs 689.55 after the company concluded a new agreement under which its UK business stands separated from the 15-billion pound British Steel Pension Scheme (BSPS).

In Asia, Japan’s Nikkei was up 1 per cent and Shanghai Composite Index rose 0.07 per cent in their early trading. Hong Kong’s Hang Seng too edged up by 0.01 per cent. The US Dow Jones Industrial Average surged 1.19 per cent to close at a fresh record high in yesterday’s trade.