Infra and bank stocks rise as Sensex jumps over 150 points

Mumbai: Domestic equity benchmark BSE Sensex jumped over 150 points in early session on Wednesday, led by gains in infra, banking and auto stocks.

After touching a high of 37,145.45, the 30-share index was trading 89.72 points, or 0.24 per cent, higher at 37,235.17 at 0950 hours, while the broader Nifty rose 21.55 points, or 0.20 per cent, to 11,024.60.

In the previous session on Monday, the BSE barometer ended 163.68 points, or 0.44 per cent, higher at 37,145.45; and the NSE Nifty settled 56.85 points, or 0.52 per cent, up at 11,003.05. Stock exchanges were closed on Tuesday on account of Muharram.

Top gainers in the Sensex pack included Yes Bank, Tata Motors, Vedanta, Tata Steel, Bajaj Auto, M&M, IndusInd Bank, Maruti, SBI and L&T, rallying up to 6 per cent.

On the other hand, Tech Mahindra, Infosys, HCL Tech, TCS, PowerGrid, ITC and Kotak Bank fell up to 1.13 per cent.

According to experts, market sentiment has improved due to positive global cues and hopes of further measures by the government to boost economy.

Finance Minister Nirmala Sitharaman on Tuesday said the government has set up a task force to boost investments in infrastructure projects and is in the process of identifying the sectors which needed funding from the centre.

On Monday, foreign portfolio investors sold shares worth a net of Rs 188.08 crore, while domestic institutional investors purchased shares worth Rs 686.47 crore, provisional data showed.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Japan and Korea were trading in the green in their respective late morning sessions. On Wall Street, bourses ended flat on Tuesday.

The rupee, meanwhile, depreciated 4 paise against its previous close at 71.75 in early session. Global oil benchmark Brent crude surged 0.91 per cent to 62.95 per barrel.