Sensex up 108 points 207 points on positive Asian cues
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The BSE Sensex climbed over 207 points to trade at 26,797.79 and the NSE Nifty recaptured the 8,100-mark in early trade on Wednesday, with increased buying by participants leading to across-the-board gains amid positive Asian cues. However, at 1044 hours, the index was down to 26,698.40, 107.81 points up or 0.41% higher, as all sectoral indices, led by auto, realty and metal, were trading in the positive zone with gains of up to 1.36%. The gauge had gained 31.44 points in the previous choppy session.
Asian shares rallied on Wednesday with Japanese stocks leading the way, while investors' bigger risk appetite pushed up US debt yields and lifted the dollar.
On similar lines, the NSE Nifty reclaimed the 8,100-level by rising 48.80 points, or 0.61%, to 8,109.50.
Brokers said a firming trend at other Asian markets following a strong closing in US markets buoyed trading sentiment here.
Besides, value-buying in recently battered bluechips too supported the rise, they said.
Among other Asian markets, Hong Kong's Hang Seng was up 3.10% while Japan's Nikkei gained 2.42% in early trade on Wedneday. Shanghai Composite index up 2.58%.
The US Dow Jones Industrial Average ended 0.50% higher on Tuesday's trade.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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