Representational image
| Photo Credit: PTI

Equity benchmark indices climbed in early trade on Monday in line with firm trend in global markets and encouraging domestic macroeconomic data.

Fresh foreign fund inflows also added to the optimistic trend in the domestic equity market.

Extending its previous day’s rally, the BSE benchmark Sensex climbed 243.69 points to 65,630.85 in early trade. The Nifty went up by 91.5 points to 19,526.80.

From the Sensex pack, Tata Steel, JSW Steel, UltraTech Cement, Larsen & Toubro, Maruti, HCL Technologies, Wipro and Tech Mahindra were the major gainers.

ICICI Bank, Nestle, Asian Paints and Power Grid were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains.

The US markets ended mostly in the positive territory on Friday.

Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday.

GST collections grew by 11% to over ₹1.59 lakh crore in August on the back of improved compliance and reduced evasion, with experts forecasting higher mop-up to continue in the upcoming festive season.

Domestic passenger vehicle sales hit a record in August led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs.

Global oil benchmark Brent crude climbed 0.05 per cent to $88.59 a barrel.

Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth ₹487.94 crore, according to exchange data.

The BSE barometer had on Friday ended higher by 555.75 points or 0.86% at 65,387.16. The Nifty had spurted by 181.50 points or 0.94% to settle at 19,435.30.

The rupee rose by 7 paise to 82.73 against the U.S. dollar on August 30 amid a positive sentiment in equity markets.

Rising crude oil prices and strengthening dollar, however, weighed on the Indian currency, according to Forex traders.

At the interbank foreign exchange, the domestic unit opened stronger at 82.67 and hit the level of 82.74 against the greenback.

Later, the rupee was trading at 82.73 against the dollar, registering a gain of 7 paise from its previous close.

On August 29, the rupee closed at 82.80 against the U.S. dollar.

“Yesterday, in the latter part of the day, dollar fell sharply and that led to gains not only in major crosses but also in commodities,” Gaurang Somaiya, Forex and Bullion Analyst at Motilal Oswal Financial Services, said.

On the domestic front, GDP numbers will be important to watch and better-than-expected numbers could support the rupee, he said. GDP numbers are scheduled to be released on Thursday.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08% to 103.61.

Brent crude futures, the global oil benchmark, rose 0.33% to $85.77 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 291.53 points or 0.45% higher at 65,367.35 points. The broader NSE Nifty advanced 78.20 points or 0.40% to 19,420.85 points.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on August 29 as they bought equities worth ₹61.51 crore, according to exchange data.

The 30-share BSE Sensex climbed 210.43 points to 65,931.68 in early trade on August 7.
| Photo Credit: Vivek Bendre

Benchmark equity indices climbed in early trade on August 7, extending their previous day’s rally, amid buying in index majors ICICI Bank and Reliance Industries along with a mixed trend in Asian markets.

The 30-share BSE Sensex climbed 210.43 points to 65,931.68 in early trade. The NSE Nifty advanced 66.1 points to 19,583.10.

From the Sensex pack, Mahindra & Mahindra, Sun Pharma, Larsen & Toubro, NTPC, ICICI Bank, UltraTech Cement, Wipro, Tata Consultancy Services, HCL Technologies and Reliance Industries were the major gainers.

Nestle, Tata Steel, ITC, IndusInd Bank, Power Grid and Bajaj Finance were among the laggards.

In Asian markets, Tokyo and Hong Kong quoted in the green while Seoul and Shanghai were trading lower.

The U.S. markets ended lower on Friday.

Global oil benchmark Brent crude dipped 0.06% to $86.19 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹556.32 crore on Friday, according to exchange data.

After three days of decline, the Sensex on Friday climbed 480.57 points or 0.74% to settle at 65,721.25. The Nifty advanced 135.35 points or 0.70% to end at 19,517.