Business

Sensex, Nifty open higher on hopes of easing of trade tensions

Sensex, Nifty open higher on hopes of easing of trade tensions

The signs of easing global trade war concerns made investors more confident about taking positions.

Brokers said a firm trend in other Asian markets after Chinese President Xi Jinping eased worries over a simmering United States trade conflict by promising new measures to open his country's massive economy "wider and wider" boosted investor sentiment here. Meanwhile, the broad based NSE Nifty went up by 22.90 or 0.22% at 10,402.25 with 26 components posting rise.

Optimism about the upcoming earnings season also supported markets.

The 30-share index opened on a positive note, only to turn negative and trade 130 points, or 0.38 per cent, lower at 33,750.74. The Street has been consolidating on the positive sentiment of investors since mid last week and the Sensex has gained more than 1,000 points in the period.

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Major Sensex losers were SBI, Adani Ports, ICICI Bank, Axis Bank, Yes Bank, Asian Paints, falling up to 2 per cent. ONGC, Sun Pharma, TCS, Infosys, Reliance Industries, were among the top gainers, rising up to 2.58 per cent. Balrampur Chini Mills surged 4.8 percent and Bajaj Hindusthan jumped nearly 7 percent. Metal stocks maintained their recent upward momentum with Vedanta, Tata Steel and Hindalco were up between 1 per cent and 2 per cent.

In other Asian markets, Hong Kong's Hang Seng was up by 0.82 percent, Japan's Nikkei gained 1.08 percent. Asian markets were mixed today. In Europe, France's Paris CAC was up 0.66 per cent, while Frankfurt's DAX gained 1 per cent in their early deals.

Sectoral indices rise up by 1.80 percent.

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