Sensex heads for fourth session of gains; Infosys leads

Paterniano Del Favero
Agosto 28, 2017

The equity markets on Monday started the week on a positive note as both Sensex and Nifty gained half a per cent when the bourses closed.

The Sensex jumped almost 200 points and the Nifty was trading above the 9,900-mark on heavy buying in infrastructure, IT, TECk and realty stocks.

Sentiment got a boost on easing border tensions after India and China agreed to expeditious disengagement of border personnel at Dokalam, they said.A better closing at most of other Asian markets also buoyed trading sentiments. Index has been making higher lows from last three trading sessions and now it has to continue to hold above 9820 to witness an up move towards 9928-9950.

Shares of Infosys will be in focus as Nandan Nilekani returned after eight years as its new non-Executive Chairman. At 0918 hours BSE Sensex was trading at 31,752.63, up 156.57 points or 0.50% while NSE Nifty was trading 9,893.75, up 36.70 points or 0.37%. This clearly showed in the stock, which was the biggest Sensex gainer with a jump of 3.14 percent at Rs 941.15. "Oil markets, meanwhile, digested the impact of Hurricane Harvey", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Buying was widespread, mainly in consumer durables, IT, technology, FMCG, power and capital goods, realty, PSUs and healthcare stocks.

Infosys Ltd closed 3.2 percent higher.

Motilal Oswal in its daily market outlook report said, "Nifty index opened positive but failed to hold above 9880 and remained in a small trading range of 30 points for the entire trading session".

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