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Sensex reclaims 36,000, Nifty above 10,850

Thursday, January 10, 2019

Continuing its rising spree for the fourth session, benchmark BSE Sensex reclaimed the 36,000 mark by jumping over 200 points yesterday tracking positive cues from global markets on rising hopes that the US and China would strike a deal to end their trade tiff.

Moreover, optimistic buying by investors ahead of Q3 earnings season supported the rally.

The BSE Sensex after a gap-up opening at 36,181.37, advanced further to the day's high of 36,250.54, before ending at 36,212.91, showing a gain of 231.98 points, or 0.64%.

The gauge had gained by 467 points in the previous three sessions.

The NSE Nifty also gained 53 points, or 0.49%, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.

"In totality, with expectation of a breather from the US-China meeting led the market to close on a positive bias. Buying interest has been seen across sectors led by private banks, IT and FMCG; while PSU banks declined due to profit-booking post recent gains," said Vinod Nair, Head of Research, Geojit Financial Services.

Investor sentiment also got a boost after the World Bank projected India's GDP growth at 7.3% in the fiscal year 2018-19, and 7.5% in the following two years, attributing it to an upswing in consumption and investment, traders said.

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