Markets regain lost ground, Sensex up by over 75 points

Asian shares too rose for the third straight session on Tuesday as investors bet that Washington and Beijing are inching towards a trade deal and that US Federal Reserve would halt its tightening if economic growth slows further.

Markets regain lost ground, Sensex up by over 75 points

Amid indications of China succumbing to the US pressure in treade war stand-off, the Indian markets regained its lost ground and rose by over 100 points from the Monday close. Telecom, realty, BSE-HC and metal stocks were the major gainers as majority of the sectors were in green zone. Nifty was at 10,792, inching higher by near 20 points.

Among the telecom stocks Bharti Airtel was up by over 1.5 percent, Himachal Futuristic had gained over 10 percent while Aksh Optifiber was up by around 1.6 percent. Among major realty stocks DLF was up by near 1 percent, Godrej Properties rose by 2.45 percent while Housing Development & Infra had gained around 3 percent from its Monday close.

Among metal majors JSW Steel went northward by near 0.9 percent, SAIL was up by around 0.65 percent, Tata Steel was around 0.35 percent higher while Jindal Steel and Power Ltd. was up by near half a percent.

On Monday, Nifty had closed 44.45 points up at 10,771.8 while Sensex closed 155.06 points northward at 35,850.16. In last one week trading session both Nifty and Sensex have shed more than one percent. So, the rise has sparked bull run at the Indian index again.

Asian shares too rose for the third straight session on Tuesday as investors bet that Washington and Beijing are inching towards a trade deal and that US Federal Reserve would halt its tightening if economic growth slows further.

Japan's Nikkei rose 1.0 percent while MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 percent. Hang Seng went up by near 0.2 percent.

On Wall Street, the S&P 500 gained 0.7 percent on Monday following 3.4 percent surge on Friday, with Amazon.com Inc and Netflix leading the rally.

After the development in US-China trade talks, rupee too gained its lost ground to the American dollar.

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Aftr breaching the psychological 70 rupee per dollar levels, it soon came down below the 70 rupee levels to 69.78 rupee per dollar.

In the forex market, dollar had regained its lost ground yesterday by near 0.2 percent.

 

Written By: ZeeBiz WebTeam
Updated: Tue, Jan 08, 2019
10:53 AM IST
ZeeBiz WebDesk
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