Mumbai: On Wednesday, in the early trade the BSE benchmark Sensex rose over 150 points in early trade led by gains in banking and auto stocks amid positive cues from other Asian markets. The BSE gauge Sensex was trading above the psychological 39,000-level in early deals up 176.95 points, or 0.45 per cent, at 39,233.60. The 30-share BSE index Tuesday settled at 39,056.65, 184.78 points or 0.48 per cent higher, marking its highest ever closing.
Similarly, the NSE benchmark Nifty was trading 39.05 points, or 0.33 per cent, higher at 11,752.25 in early session. Top gainers on Sensex include Tata Motors, IndusInd Bank, HDFC twins, PowerGrid, Kotak Bank, Tata Steel, Bharti Airtel, Yes Bank, M&M, Maruti, Bajaj Finance, SBI and RIL, rising up to 2.05 per cent.
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On the other hand, Infosys, HUL, Coal India, L&T and Sun Pharma were the top losers, falling up to 0.68 per cent. According to experts, inflow of foreign liquidity in expectation of rate cut from the Reserve Bank of India (RBI) and revival in earnings will provide some stability in the market. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 543.36 crore on Tuesday, while domestic institutional investors (DIIs) sold equities to the tune of Rs 437.70 crore, provisional data available with stock exchanges showed.
The Monetary Policy Committee (MPC) is holding a two-day meeting between April 2 and April 4 for the first bi-monthly policy statement for 2019-20. The RBI will unveil its first bi-monthly monetary policy decision of this new fiscal on Thursday. Meanwhile, the rupee appreciated by 9 paise to trade at 68.65 to the US dollar in early trade on Wednesday. Brent crude futures, the global oil benchmark, rose 0.52 per cent to trade at USD 69.73 per barrel. Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading positive.
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