Sensex rises 157 points; metal, power stocks rally

Mumbai: The BSE Sensex ended 157 points higher on Wednesday, driven by gains in metal, power and financial stocks ahead of June derivatives expiry.

Extending its gains for the second session, the 30-share index settled 157.14 points, or 0.40 per cent, higher at 39,592.08. The index hit an intra-day high of 39,674.22 and a low of 39,319.64.

The broader NSE Nifty too rose 51.10 points, or 0.43 per cent, to finish at 11,847.55. During the day, the index touched a high of 11,871.85 and a low of 11,757.55.

Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher.

On the other hand, Infosys, IndusInd Bank, Tech Mahindra, Bharti Airtel, Maruti, TCS and HDFC were among the top losers, shedding up to 1.12 per cent.

Buying interest was seen in metal, power, healthcare, capital goods and financial counters ahead of the expiry of June futures and options (F&O) contracts scheduled for Thursday, traders said.

Domestic investors are also hoping for positive news on the trade front in the backdrop of US Secretary of State Mike Pompeo holding talks with Prime Minister Narendra Modi in New Delhi, traders added.

According to experts, equities witnessed gains after positive momentum was triggered in the domestic stock market on reports of swift monsoon progress in the country.

On the currency front, the Indian rupee was appreciated 22 paise to 69.13 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, rose 1.17 per cent to USD 65.03 per barrel.

Globally, while bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a mixed note, equity markets in Europe were trading in the green in early deals.