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Rediff.com  » Business » Sensex rises 300 points on earnings optimism

Sensex rises 300 points on earnings optimism

October 16, 2018 17:00 IST

The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75.

Illustration: Uttam Ghosh/Rediff.com

The BSE Sensex on Tuesday surged 297 points to went past the key 35,000-level, continuing its winning-run for the third straight day amid optimism ahead of quarterly earnings from heavyweights and recovery in the rupee.

 

Meanwhile, the rupee strengthened by 25 paise to 73.58 (intra-day) against the US dollar in the forex market.

Besides, easing global crude prices and positive cues from Asian markets and a higher opening in european shares too fuelled the rally. Brent was trading 0.25 per cent lower at $80.58 a barrel on Tuesday.

The 30-share Sensex stayed in the positive zone during the session and shuttled between 35,215.79 and 34,913.06, before settling 297.38 points or 0.85 per cent higher at 35,162.48.

The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75.

Hero MotoCorp is slated to announce their financial results on Tuesday.

Domestic institutional investors (DIIs) bought shares worth Rs 294.78 crore, while foreign institutional investors invested Rs 67.86 crore on Monday, as per provisional data issued by the stock exchanges.

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