Bourses end in green on economy booster

Mumbai: Indian equities continued their winning streak for a third session in a row amid easing concerns on the macro front after the government's proactive measures to lift the economy and the Reserve Bank's liquidity support.

The BSE benchmark Sensex ended 147.15 points, or 0.39 per cent, higher at 37,641.27 - a near three-week high level. During the day, the index hit a high of 37,731.51 and low of 37,449.69. Similarly, the broader NSE Nifty rose 47.50 points, or 0.43 per cent, to 11,105.35.

Besides domestic economic factors, positive developments around the Sino-US trade tiff also boosted the Indian market sentiment. Gains mainly in metal, auto and oil and gas counters drove the Sensex higher.

A weakness in IT counters was seen on account of strengthening rupee, which surged 54 paise to 71.48 against the $.

Sectorally, BSE metal, auto, industrials, oil and gas, capital goods, utilities and power indices rallied up to 2.04 per cent. While, BSE telecom, teck and IT stocks fell up to 2.26 per cent.

Broader BSE midcap and smallcap indices too surged up to 1.63 per cent. Investors took note of the Reserve Bank's decision to transfer record Rs 1.76 lakh crore to the government, which is expected to help improve the liquidity situation in a big way.

Besides, domestic equities have been riding a wave of optimism after the government came out with stimulus measures to revive the economy.

Domestic equities also followed global stocks, that rallied after US President Donald Trump Donald Trump said China-US trade talks would resume soon.

Brent crude futures, the global oil benchmark, rose 0.93 per cent to $58.66 per barrel.