Business

Sensex ends 95 points higher; Nifty settles at 10565-level

Sensex ends 95 points higher; Nifty settles at 10565-level

The Sensex ended 95 points higher at 34,427 while Nifty rose to 10,565, up 39 points.

The Nifty50 fell by 22.50 points, or 0.21 per cent, to close at 10,526.20 points on Wednesday, and the Sensex closed at 34,331.68 points, down 63.38 points, or 0.18 per cent.

Indian shares crept higher on Wednesday, set for a 10th consecutive session of wins, buoyed by hopes of strong quarterly results, with consumer staples stocks among top gainers as forecasts of normal monsoon brightened their outlook.

On the other hand, the broader 51-scrip Nifty at National Stock Exchange (NSE) opened at 10,578.90 points after closing at 10,548.70 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.

On the global front, Asian stocks closed higher amid improved investor sentiment after USA stocks notched gains in the last session, with Hang Seng rising 1.4 percent and Shanghai Composite up 0.85 percent.

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Hindalco shares soared as much as 8.8 percent, Vedanta jumped 6.7 percent and Tata Steel rallied 3.3 percent as base metal prices surged on supply worries following US sanctions on Russian companies.

The surge came on a Reuters report that OPEC's new price hawk Saudi Arabia would be happy for crude to rise to $80 or even $100, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement's original target is within sight.

IndusInd Bank gained 0.69 percent to 1857.45 and TCS rose 0.43 percent to Rs 3173 ahead of earnings. China's Shanghai Composite index was trading in green, up by 0.78 per cent.

The US Dow Jones Industrial Average, however ended 0.16 per cent lower in yesterday's trade.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 951.39 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 723.81 crore yesterday, as per provisional data.