Sensex inches higher on positive GDP data, Nifty above 10,500

Team Udayavani, Mar 1, 2018, 11:27 AM IST

Mumbai: The BSE Sensex rose over 63 points in opening deals today, supported by fresh buying activity triggered by positive GDP data for the December quarter amid mixed Asian cues. 

The 30-share index, which had lost 261.71 points in the previous two sessions, opened 63.02 points, or 0.18 per cent, higher at 34,247.06. All sectoral indices inched higher, led by gains in metals, capital goods, infrastructure, realty, banking and auto stocks. 

The broader NSE Nifty reclaimed the 10,500-mark, rising 25.85 points, or 0.24 per cent, to 10,518.70. Market sentiment bolstered after the release of GDP data yesterday, that showed the economy recorded a five-quarter high growth of 7.2 per cent in the October-December quarter on good show by key sectors like agriculture, construction and manufacturing.

Besides, the combined index of the eight core sectors, including coal, steel, cement and petroleum, rose 6.7% in January, up from 3.4 per cent in same month a year ago. Major gainers that supported key indices include Tata Steel, Bajaj Auto, Sun Pharma, IndusInd Bank, Tata Motors and Bharti Airtel, rising up to 1.70 per cent. 

A mixed trend in other Asian markets influenced investor sentiment here, traders said. Meanwhile, Hong Kong’s Hang Seng was up 0.02 per cent while Shanghai Composite index up 0.44 per cent in early trade today. Japan’s Nikkei, however, sheds 1.60 per cent. The US Dow Jones Industrial Average ended 1.50 per cent lower yesterday.