Sensex Rises 230 Points In Early Trade; Nifty Nears 9800

Cheryl Sanders
August 14, 2017

It had dropped by 355.60 points or 3.53 per cent in the previous week.

On a weekly basis, the 30-scrip Sensitive Index (Sensex) of the BSE lost 1,111.82 points or 3.44 per cent to close below the 32,000-mark at 31,213.59 points.

The broader market indices outperformed the benchmark indices. "After opening with an upside gap of around 40 points today, Nifty continued to rise gradually for the better part of the session", Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.

"The carnage was seen more in small and mid-cap space which fell 20-30 per cent in a matter of days after hitting record highs last month", Desai told IANS. "Asian markets closed with a mixed trend, while European indices like CAC 40 and FTSE 100 traded in the positive", he added.

The Indian rupee traded 15 paise down at 64.11 to the dollar at 11.42 am on Monday.

The Nifty Metal index was trading 3.27 per cent up at 3,322 around 1.15 pm (IST) with only Ratnamani Metals & Tubes (down 1.62 per cent) and APL Apollo Tubes (down 1.23 per cent) trading in red. The investors' sentiment further deepened following the geopolitical concerns between the United States and North Korea followed by the lower-than-expected first quarter corporate earnings which also distressed the mood of market participants.

Top gainers on Monday included Cipla, Sun Pharma, Tata Steel, Tata Power, Hindalco, Adani Ports and Hero Motocorp while TCS, Bosch, Bharti Airtel, SBI, Infosys, HCL Tech and Dr Reddy's Labs declined.

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