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Sensex jumps over 210 points at open, Nifty above 10,860; Infosys up 3%

Share Source By

Dion Global

09 Jan 2019

Indian benchmark indices opened higher on Wednesday taking cues from their Asian peers. The rupee opened 16 paise higher at 70.05 against the US dollar amid positive global cues and rise in crude oil prices. US crude oil prices on Wednesday rose above $50 per barrel for the first time in 2019 on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown.

Banks, automobiles and pharmaceutical sectors are gaining the most. The shares of Infosys rose 3 per cent after the board said it would consider proposal(s), including but not to limited to, buyback of fully paid-up equity shares of the company, payment of special dividend, for implementation of the Capital Allocation Policy at its meeting to be held on January 11. The shares of NMDC were trading nearly 3 per cent lower after the finance ministry approved its share buyback plan worth Rs 1,000 crore. The timeline for the launch of the offer will be decided by NMDC's board.

At 9:20 hours, the BSE SENSEX was trading at 36195.03 up by 214.1 points or by 0.6 per cent and then NSE Nifty was at 10862.4 up by 60.25 points or by 0.56 per cent.

The top gainers of the BSE Sensex were Infosys Ltd. (Rs. 680.75,+1.63%), Tata Motors Ltd. (Rs. 182.20,+1.59%), Axis Bank Ltd. (Rs. 659.55,+1.33%), Sun Pharmaceutical Industries Ltd. (Rs. 452.30,+1.15%), Maruti Suzuki India Ltd. (Rs. 7499.05,+1.05%), among others.

The top losers of the BSE Sensex were Hero MotoCorp Ltd. (Rs. 2953.80,-0.71%), Bajaj Auto Ltd. (Rs. 2684.00,-0.25%), HCL Technologies Ltd. (Rs. 943.15,-0.21%), IndusInd Bank Ltd. (Rs. 1575.20,-0.15%), among others.

Among sectors, BSE IT index was trading high at 14170.66, up by 131.28 points or by 0.94%. 8K Miles Software Services Ltd. (Rs. 151.80,+4.98%), Brightcom Group Ltd. (Rs. 2.75,+2.23%), Infosys Ltd. (Rs. 680.75,+1.63%), Quick Heal Technologies Ltd. (Rs. 208.95,+1.53%), NIIT Technologies Ltd. (Rs. 1139.25,+1.16%). On the flip side, BSE PSU index was trading low at 7240.04 down by 10.16 points or by 0.14%. NMDC Ltd. (Rs. 93.00,-2.05%), Bharat Petroleum Corporation Ltd. (Rs. 348.55,-0.92%), Syndicate Bank (Rs. 41.40,-0.72%), Indian Bank (Rs. 256.25,-0.64%), Hindustan Petroleum Corporation Ltd. (Rs. 246.60,-0.50%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1003 , shares advanced were 685 while 284 shares declined and 34 were unchanged.