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10 August, 2022 17:24 IST
Sensex gains 151 points; Banks, realty shine
Source: IRIS | 24 Nov, 2021, 12.15PM
Rating: NAN / 5 stars.
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Indian markets continued to rally in the late morning trade on Wednesday. Banks, financials and realty stocks traded higher.

The 30-share benchmark index, BSE Sensex opened with a gain of 174.99 points or 0.30% at 58,839.32, while the broad based NSE Nifty started with a rise of 46.70 points or 0.27%, at 17,550.05.

At 10.28 a.m., the Sensex was trading up 150.83 points or 0.26% at 58,815.16 with 21 components gaining. Meanwhile, the Nifty was trading higher by 54.70 points or 0.31% at 17,558.05 with 31 components gaining.

Major gainers in the 30-share index were Bharti Airtel (2%), NTPC (1.80%), Power Grid Corporation of India (1.44%), ICICI Bank (1.38%), Axis Bank (1.09%), HDFC Bank (1.05%), HCL Technologies (1.05%) and State Bank of India (0.96%).

On the other hand, Maruti Suzuki (1.41%), Tech Mahindra (1.40%), Infosys (0.80%), Titan (0.60%), Bajaj Finserv (0.46%), Asian Paints (0.41%) and Hindustan Unilever (0.29%) were the major losers in the Sensex. Market breadth was positive with 2,316 advances against 743 declines.

On global front, Asian stocks were steady on Wednesday and Treasury yields held a climb as traders weighed the prospect of tighter monetary policy to curb inflation. Shares fell in Japan (down 0.5%) and fluctuated in South Korea and Australia. SGX Nifty is up 0.3% while Dow Future is trading flat.

European stocks largely ended in red on Tuesday as investors monitored a surge in fresh COVID-19 infections even as the euro area economic activity rose in November. Both Germany and France slipped over 1% each concern of rising pandemic cases.

U.S. shares rose on the back of gains in cyclicals, while the technology sector extended losses as rising Treasury yields damped the outlook for growth stocks. Dow Jones gained over half percent while Nasdaq Composite slipped half percent on account of 10-year US Treasury yield rose 6 basis points to 1.68%, a four-week high. Energy and financial stocks led the advance. US Fed minutes of meeting and Q3 GDP data will announce today while US market will shut tomorrow on account of Thanksgiving Day.

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