Friday, September 22, 2023

Sensex, handy in the green as crude oil prices soften

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Equity benchmark indices recovered in early trading Thursday after falling in the previous two trading days, helped by foreign fund inflows and a largely positive trend in global markets.

The 30 Shares BSE Sensex climbed with 550.73 points to 59,579.64. On similar lines, the wider NSE Nifty moved up 156.1 points to 17,780.50.

All 30 shares of Sensex companies traded in the green in early trading, with Asian Paints, UltraTech cement, Bharti Airtel, ICICI bankTech Mahindra, Infosys, Mahindra & Mahindra and Bajaj Finance emerge as the biggest winners.

Elsewhere in Asia, markets in Seoul and Tokyo were trading green, while Shanghai and Hong Kong were lower in mid-session deals.

US stocks closed sharply higher on Wednesday.

The 30 Shares BSE benchmark fell 168.08 points or 0.28 percent to settle at 59,028.91 on Wednesday. The Nifty fell 31.20 points or 0.18 percent to 17,624.40.

Meanwhile, the international oil benchmark Brent oil climbed 1.05 percent to $88.92 a barrel.

Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 758.37 crore on Wednesday, according to data from the exchange.

“After two days of steady declines, local stock benchmark indices are likely to see a solid open, reflecting gains in US markets and subsequent gains from other Asian competitors,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd in his pre-market opening commentary.


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