Sensex Rises 95 Points; Nifty Ends Above 10550

Markets open on higher note

The Sensex touched a high of 34,434.14 points and a low of 34,229.83 points during the intra-day trade.

Nifty, which closed at 10,526.20 yesterday, was trading at 10,559.55, up by 33.35 points (0.32%), at 11:18 am.

The gauge had shed 63.38 points in the previous session.

At 3.30 p.m., the wider Nifty50 on the National Stock Exchange (NSE) provisionally closed higher by 39.10 points, or 0.37 per cent, at 10,565.30 points.

The 30-share barometer rose 147.14 points (0.42 percent) to 34 478.82 with metal, realty, Teck, FMCG, IT and capital goods stocks rising up to 1.81 percent.

Globally, Japan's Nikkei moved up 1.29 percent and Hong Kong's Hang Seng gained 0.27 percent in early trade today.

Tata Steel, Yes Bank, Bharti Airtel, TCS and Infosys were among the major gainers with their stocks rising as much as 3.08 per cent. Brokers said buying by investors coupled with a firm trend in other Asian markets influenced sentiment. Hindalco, SAIL, JSW Steel, Jindal Steel, Hindustan Zinc, Tata Steel and NMDC closed with gains of up to 9 per cent.

United Kingdom inflation falls to 2.5%, its lowest level for a year
Earlier, the pound touched its highest level against the dollar since the United Kingdom voted to leave the European Union. This was the weakest rate since March 2017, when prices gained 2.3 percent.

Oil prices extended gains after settling close to 3 percent higher in the previous session on fall in United States crude inventories and after sources told Reuters that top exporter Saudi Arabia is seeking to push oil prices higher.

TCS stock is up 0.50% ahead of Q4 results later in the day.

The rupee on Thursday depreciated 15 paise to 65.81 against the U.S. dollar in opening trade at the interbank forex market today on increased demand for the greenback from importers and banks amid soaring crude oil prices overseas.

Meanwhile, on a net basis, DIIs bought shares worth Rs 723.81 crore, while foreign funds sold shares to the tune of Rs 951.39 crore yesterday, provisional data showed.

"The recent tiresome phase in index is showing early sign of exhaustion thus profit booking is advisable on every rise".

Nasdaq closed in green, up by 0.19 per cent, while FTSE 100 was also up by 1.25 percent at the closing on Wednesday.

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