Sensex trades 130 points higher ahead of derivatives expiry
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Mumbai: The 30-share bellwether BSE Sensex traded higher on Wednesday morning, ahead of the expiry of derivatives. The government is expected to release data on GDP growth on 29 August.
At 9.22am, the Sensex was trading up 0.52%, or 138.65 points, at 26,581.46 points, while the National Stock Exchange’s broader barometer 50-share Nifty was up 0.38%, or 29.95 points, at 7,934.70 points.
The gainers included Oil and Natural Gas Corp. Ltd (ONGC) that was trading up 1.99% to Rs.426.40 and Bharat Heavy Electricals Ltd (Bhel) that rose 1.42% to Rs.235.50.
Among the losers, Gail India Ltd fell 0.55% to Rs.432 and Tata Consultancy Sevices Ltd (TCS) fell 0.48% to Rs.2,521.30.
The BSE consumer durables index was the top sectoral gainer, up 1.13%.
Larsen and Toubro Ltd (L&T) rose 0.57% to Rs1,512.55. On Tuesday, the company had announced that it signed a $200 million (about Rs.1,200 crore) to set up a gas-based power plant in Chittagong.
Reliance Industries Ltd (RIL) rose 0.44% to Rs.998.45. According to Bloomberg, both RIL and ONGC are looking to invest in Mexico, which is allowing private investment in its oil industry to help reverse a slump in output.
Since the beginning of this year, the Sensex has gained 24.9%, while foreign institutional investors have bought $12.80 billion from local equity markets.
Asian markets were trading higher taking cues from the US markets, Hong Kong’s Hang Seng was up 0.11%, China’s Shanghai Composite was down 0.23% and Japan’s Nikkei Stock Average was trading up 0.03%.
Overnight, US stocks gained after data showed consumer confidence rising to an almost seven-year high.
The S&P 500 gained 0.11%. The Nasdaq Composite rose 0.29% and Dow Jones Industrial Average was up 0.17%.
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Pallia sold his 100,000 Wipro shares through a 'market sale' on February 14 this year, with the transaction being reported to the exchange on February 15. The total transaction amounted to Rs 5.05 crore, the report added. Following the transaction, Pallia's holdings of securities on the BSE were reduced to zero.
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