Sensex Jumps 348 Points On Earnings Optimism; Nifty Nears 10100


BSE Sensex was up by over 83 points or 0.26% at 31,917.72 while the wider Nifty was up by over 31 points or 0.31% at 10,015.95.

"Nifty showing sharp intra-day weakness from the highs today is opening up the possibility for more weakness for the coming sessions", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

The 30-share Sensex was higher by 112.53 points, or 0.35 per cent, at 31,946.52.

The Nifty opened above the 5 digit figure of 10,000 points, helped by stocks of International Olympic Committee and IndusInd which rose by more than 0.7% each in the morning trade.

The BSE market breadth was bullish - 1,694 advances and 980 declines.

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A host of economic data releases such as CPI inflation and factory output numbers due for release post market hours on Thursday are as important as TCS earnings.

TCS stocks gained about 2 per cent while Reliance Industries stocks climbed 4 per cent ahead of its quarterly results tomorrow. Domestic institutional investors (DIIs) remained net buyers, picking up shares net Rs 233.08 crore. The Nifty Bank, Auto, FMCG, Metal and Pharma indices gained 1-2 percent, followed by IT with 0.9 percent.

Axis Bank, Hindustan Unilever, Adani Ports and Hero MotoCorp all went up. On the other hand, banking index was down 0.31 per cent and consumer durables 0.02 per cent.

Japan's Nikkei rose 0.47 per cent while Hong Kong's Hang Seng moved up 0.17 per cent in early trade today.

This is unedited, unformatted feed from the Press Trust of India wire.