Sensex jumps 191 points to 31404.24, ignores weak IIP data

Sensex jumps 191 points to 31404.24, ignores weak IIP data”

Short-covering in recently beaten down stocks by speculators and a mixed trend on other Asian bourses, tracking weekend gains in the U.S. markets, influenced trading sentiment, brokers said. Meanwhile, the Nifty was trading higher by 52.40 points or 0.54% at 9,763.20 with 41 components gaining. The 50-stocks index has crucial support placed around the level of 9,702 and the next important support stands at the level of 9,650.

Housing Development Financial Corp and HDFC Bank advanced 2.6 per cent and 1.1 per cent, respectively, and were among the leading gainers.

The benchmark BSE Sensex was up 230 points or 0.74 percent at 31,439 in early trade after tumbling around 3.5 percent last week in view of geopolitical tensions, disappointing quarterly results and market regulator SEBI's crackdown on shell companies.

The Sensex has so far touched a high of 31,501.29 points and a low of 31,298.90 points during the intra-day trade.

The markets broke their five-session losing streak even though it was announced on Friday that India's industrial output for June had declined by 0.1%, the first contraction in four years.

"The broader NSE's Nifty, too, rose in the morning hours".

The Indian rupee traded 15 paise down at 64.11 to the dollar at 11.42 am on Monday. The BSE Realty index slipped almost 10 per cent during the week, while the auti and Capital goods indices declined 6 per cent and 4 per cent, respectively.

The Nifty50 fell by 109.45 points, or 1.11 per cent to close at 9,710.80 points, while the Sensex closed at 31,213.59 points - down 317.74 points, or 1.01 per cent.

Like this


14 August 2017
Thomas wins PGA for first career major title
He followed that up by shooting a 5-under 66 in the second round and a two-under 69 in the third round. This time round, Thomas entered the final round two shots behind leader Kevin Kisner .

14 August 2017
Tottenham's Rose eager for trophies and big name signings
We were focused from the beginning of pre-season to challenge and try again to prepare ourselves to compete in a very tough league.

14 August 2017
Costlier Veggies Push Up Wholesale Inflation To 1.88% in July
Wholesale inflation soared to a 23-month high of 3.55 per cent in July as vegetables, pulses and sugar turned costlier. Inflation based on the wholesale price index (WPI) was 0.90 per cent in June 2017 and 0.63 per cent in July 2016.

14 August 2017
Citizenship rules may claim Joyce next
He told lawmakers that he had referred himself to the country's High Court and would retain his position while it investigates. Two Greens senators quit as lawmakers this year after it was revealed they held dual citizenship.

14 August 2017
Caster Semenya wins 800m gold
Caster Semenya made history once again on Sunday when she scooped the gold medal in the 800m of the IAAF Championship in London. Lynsey Sharp finished in eighth place, though it was overall an extremely fast final; every woman ran under the 1:59.00 mark.

14 August 2017
Japan econmin: No need for new stimulus package for economy
Private consumption added 0.9% on quarter, beating forecasts for 0.5% after rising 0.4% in the previous three months. Japan's economy has grown for a sixth straight quarter after delivering annualized growth of 4% in the June quarter.

14 August 2017
Trump's Threat 'Very Worrisome', South Korean Presidential Adviser Says
Moon and Trump held talks on the phone and agreed on the need for maximum pressure on North Korea on Monday, a day after the U.N. On Friday, the Trump wrote : "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".

14 August 2017
Bitcoin Soars Past $4000 in Weekend Trading
He noted on Twitter that upticks in the bitcoin price and Google searches have historically led to price corrections. A few days ago, Fidelity launched new service to enable users track their holdings in virtual currency.

14 August 2017
Rory McIlroy may miss the rest of 2017 due to injury
McIlroy plans to fly back to Northern Ireland directly from the PGA Championship to meet with his fitness expert, Steve McGregor. McIlroy certainly hasn't lacked distance off the tee this week, ripping drives in practice out the back of the driving range.

14 August 2017
Dow winning streak snapped as stocks drift lower
Ten-year US yields dropped 4 basis points (bps) to 2.242% by 6:00AM ET (10:00GMT) while German equivalents fell 3.8 bps to 0.435%. President Donald Trump told the North that any threat it presented to the United States would be met with "fire and fury".