Sensex climbs 350 pts as September series begin on positive note
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The benchmark BSE Sensex rallied over 350 points to 26,582.13 in early trade on Friday on continued buying by investors as the September series in the derivatives segment began on a strong note.
The Nifty of National of Stock Exchange regained the 8,000-mark by rising 113 points.
The 30-share Sensex, which had gained 516.53 points in Thursday’s session, rose further by 350.94 points or 1.33 per cent to 26,582.13 points.
Led by realty, metal, IT and oil & gas, all the sectoral indices of BSE were in the positive zone.
The NSE Nifty reclaimed 8,000-mark by climbing 113.00 points, or 1.42 per cent at 8,061.95.
Brokers said widening of positions by participants, following beginning of the September month F&O series and a firming trend at other Asian markets following overnight gains on the US markets after strong economic data, buoyed trading sentiments.
Besides, sustained buying by domestic financial institutions also supported the rally, they said.
Among other Asian markets, Japan’s Nikkei gained 2.77 per cent, Shanghai Composite index rose 2.17 per cent, while Hong Kong’s Hang Seng was up 1.66 per cent in early trade.
The US Dow Jones Industrial Average ended 2.27 per cent higher in Thursday’s trade.
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Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if US President-elect Donald Trump imposes 25 per cent import tariffs on crude imports from the two countries, traders and analysts said.
Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico even as the US oil industry has warned the policy could hurt consumers, industry and national security.
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Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
Sources said Priyanka Gandhi is likely to take oath in the Lok Sabha on Thursday.
Leaders from Wayanad handed over the election certificate of the Wayanad parliamentary by-election to Priyanka Gandhi and conveyed their best wishes.
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The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
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