Sensex rises over 200 points; Nifty tests 12,100

Mumbai: Market benchmark BSE Sensex jumped over 200 points in early trade on Wednesday led by gains in HDFC twins, TCS and RIL as unabated foreign fund inflow and positive global cues enthused investor sentiment.

After hitting a high of 41,075.76, the 30-share index was trading 207.41 points, or 0.51 per cent, higher at 41,028.71 in morning session. Similarly, the broader Nifty rose 59.30 points, or 0.49 per cent, to 12,096.75.

Yes Bank was the top gainer in the Sensex pack rallying up to 5 per cent, followed by Tata Motors, M&M, HDFC, HDFC Bank, Maruti, IndusInd Bank, Vedanta and TCS.

On the other hand, ICICI Bank, Tata Steel, L&T and ITC were trading in the red.

On Tuesday, the Sensex touched its all-time intra-day high of 41,120.28 before closing down by 67.93 points or 0.17 per cent at 40,821.30. The Nifty also soared to a new peak of 12,132.45 in day trade before giving up gains to end lower by 36.05 points or 0.30 per cent at 12,037.70.

According to analysts, sustained foreign fund inflow amid positive cues from global markets buoyed market sentiment.

Short covering ahead of the expiry of November derivatives contracts on Thursday is also contributing to the rally, traders said.

Foreign institutional investors bought shares worth Rs 4,677.75 crore in the capital market in the previous session, while domestic institutional investors sold equities worth Rs 4,242.01 crore, data available with stock exchange showed.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note amid hopes of a breakthrough in the trade logjam between the US and China.

Stocks on Wall Street ended in the green on Tuesday.

On the currency front, the rupee appreciated 6 paise against the US dollar to trade at 71.43 in early session.

Brent futures, the global oil benchmark, slipped 0.24 per cent to USD 63.06 per barrel.