Sensex, Nifty opens higher; metal stocks surge
11/07/2019 09:40

Indian benchmarks opened higher on Thursday after Federal Reserve Chairman Jerome Powell signalled at a possible rate cut later this month. In an appearance before his Congressional overseers on Wednesday, Powell confirmed that the US economy is still under threat and that the central bank stands ready to “act as appropriate”.

At 9:30 hours, the 30-share benchmark index was trading at 38637.83 up by 80.79 points or by 0.21 per cent, while the NSE Nifty was at 11546.3 up by 47.4 points or by 0.41 per cent.

During the days trade, Sensex touched intraday high of 38774.8 and intraday low of 38633.8 The NSE Nifty touched intraday high of 11561.7 and intraday low of 11534.9.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 463.75,+2.01%), Vedanta Ltd. (Rs. 163.00,+1.88%), Oil And Natural Gas Corporation Ltd. (Rs. 153.65,+1.32%), State Bank of India (Rs. 358.60,+1.24%), Power Grid Corporation of India Ltd. (Rs. 207.65,+1.17%), among others.

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2675.70,-2.41%), Mahindra & Mahindra Ltd. (Rs. 664.55,-1.49%), Bajaj Finance Ltd. (Rs. 3377.90,-1.42%), ICICI Bank Ltd. (Rs. 427.80,-0.73%), Infosys Ltd. (Rs. 712.85,-0.56%), among others.

Among the sectors, Metal index was at 10395.26 up by 135.64 points or by 1.32%. JSW Steel Ltd. (Rs. 261.75,+2.67%), Jindal Steel & Power Ltd. (Rs. 134.50,+2.05%), NMDC Ltd. (Rs. 115.90,+2.02%), Tata Steel Ltd. (Rs. 463.75,+2.01%), Vedanta Ltd. (Rs. 163.00,+1.88%),.

On the flip side, IT index was at 14998.34 down by -37.25 points or by -0.25%. MosChip Technologies Ltd. (Rs. 16.10,-3.59%), Hexaware Technologies Ltd. (Rs. 352.45,-1.80%), L&T Technology Services Ltd. (Rs. 1637.30,-1.59%), Mahindra & Mahindra Ltd. (Rs. 664.55,-1.49%), MphasiS Ltd. (Rs. 931.15,-1.44%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1196 , shares advanced were 732 while 400 shares declined and 64 were unchanged.