Monday, 23 April, 2018

Sensex, Nifty open higher on hopes of easing of trade tensions

Future Supply Chain Solutions heads north after RBI notification Sensex, Nifty open higher on hopes of easing of trade tensions
Lisa Bryan | 11 April, 2018, 14:01

The NSE index had formed a Doji candle with open and close around the same level on Tuesday, and has retreated from a one-month high hit earlier in the day on Wednesday. According to analysts, higher crude oil prices and bonds led to dampening of customer sentiments as well.

Indian market continued its winning spree for the fourth straight session by gaining around 92 points to 33,880, with banking and metal shares leading the way tracking positive Asian cues as China revealed its future economic agenda, including further opening up of economy and lowering import tariffs on certain goods.

"We will see stock-specific movements as earnings come in", said Gupta.


Investors are focusing on key macroeconomic data, including retail inflation and industrial production numbers due tomorrow and corporate results starting Friday. The Sensex closed 60.19 points up to settle at 33,940.44 while Nifty settled at 10,417.15 mark.

Oil marketing companies slumped following reports that the government is asking these firms to absorb price hikes. Hindustan Petroleum Corp Ltd plunged over 7 percent, while both Bharat Petroleum Corp Ltd and Indian Oil Corp Ltd dropped over 5 percent. However the bank index considerable losses.

The gauge had gained 861.18 points in the previous four sessions. SBI finished 2.4 per cent lower while PNB fell 2.9 per cent. Sector-wise, Nifty FMCG rose 1.13% followed by Nifty Pvt Bank 0.92%. Hong Kong's Hang Seng rose 1.65 per cent, while Shanghai Composite Index inched up 1.66 per cent. Japan's Nikkei too surged 0.54 per cent.

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