ZCZC
BCN-18
INDIA-MARKET-SENSEX
Sensex surges over 200 pts on US-China trade truce
Mumbai, Dec 3, 2018 (BSS/PTI) – The benchmark BSE Sensex opened over 200
points higher Monday following euphoria in other Asian stocks after US
President Donald Trump and his Chinese counterpart Xi Jinping agreed to a
truce and halted their tariff war at the G20 meet.
The 30-share index was trading 181.52 points, or 0.50 per cent, higher at
36,375.82 at 0945 hrs.
In similar movement, the NSE Nifty was trading 30.80 points, or 0.28 per
cent, up at 10,907.55.
Investors are eyeing Purchasing Managers’ Index (PMI) data for the
manufacturing and services sectors, and also awaiting signals from Reserve
Bank of India’s fifth bimonthly monetary policy meeting for 2018-19 which is
scheduled to begin later in the day.
Metal, realty and FMCG stocks were the biggest gainers on bourses in early
session.
Top gainers include Vedanta, Tata Steel, Coal India, HUL, Infosys, HDFC,
PowerGrid, IndusInd Bank, ONGC, NTPC, ITC and HDFC Bank, rising up to 3 per
cent
While, Sun Pharma was the biggest losers in the Sensex pack, falling up to 9
per cent, on reports that markets regulator Sebi was likely to reopen an
insider trading case against the company as well as probe alleged lapses by
some of its promoters and other entities in raising funds overseas.
The development comes after a whistleblower reportedly approached Sebi with a
document alleging various irregularities by the company, its promoter Dilip
Shanghvi and others, sources said.
Other losers include Yes Bank, ICICI Bank, M&M and Hero MotoCorp, shedding up
to 2 per cent.
On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs
332.62 crore Friday, while domestic institutional investors (DIIs) were net
buyers to the tune of Rs 1,489.65 crore, provisional data available with BSE
showed.
The rupee, meanwhile, depreciated by 50 paise to 70.08 against the US dollar
in early trade Monday at the interbank foreign exchange amid strengthening of
the US dollar against some currencies overseas.
Brent crude, the international benchmark, was trading 4.78 per cent up at USD
62.30 per barrel.
Elsewhere in Asia, Hong Kong’s Hang Seng was up 2.68 per cent, Japan’s Nikkei
gained 1.30 per cent and Shanghai Composite Index edged higher by 2.91 per
cent in early trade.
On Wall Street, The Dow Jones Industrial Average index rose 199.62 points, or
0.79 per cent, to 25,538.46 on Friday.
BSS/PTI/HR/1150