Sensex up 72.31 points, Nifty up 9435.65 in morning trade

Posted May 12, 2017

Asian stocks rose early on Thursday, getting a lift from a record high close on MSCI's global stocks benchmark after strong gains in oil prices buoyed energy stocks globally.

The broader NSE Nifty also rose 15.10 points or 0.16 per cent to 9,422.40, its new closing high, after scaling a new intra-day peak of 9,450.65.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at a new high of 30,248.17 points - up 314.92 points or 1.05 per cent from its previous close at 29,933.25 points.

The NSE Nifty, after hitting a record high of 9414.75, settled higher by 90.45 points, or 0.97 per cent at 9407.30. It is trading up 3% at Rs 194 per share on the BSE.

Indian shares rose on Tuesday after three consecutive sessions of falls as recent decliners such as IT stocks recovered, but overall sentiment was cautious ahead. "Financial services stocks were also seen rallying reflecting markets' expectations for further strength in equities", said Anand James, Chief Market Strategist, Geojit Financial Services in a note.

However, the point of worry was foreign portfolio investors (FPIs) who sold stocks worth Rs 363.98 crore, as per provisional data.

"Banking sector stocks traded with mixed sentiments throughout the session due to profit booking".

HCL Technologies gained half a percent after its Q4 profit beat analysts' estimates. All sectoral indices led by realty, consumer durables, metal, power and capital goods were trading in the positive terrain, rising up to 1.96 per cent.

However, Bharti Airtel fell 2.21 per cent, GAIL 2.14 per cent, ONGC 1.94 per cent, HUL 1.78 per cent, Axis Bank 1.69 per cent, NTPC 1.39 per cent, Coal India 1.20 per cent, Power Grid 1.14 per cent and Tata Motors 1.08 per cent.

Shanghai Composite Index, however, was down 0.25 per cent.

Globally, Japan's Nikkei was up 1.80 per cent, while Hong Kong's Hang Seng rose 0.36 per cent in early trade today. The BSE Small-Cap index fell 0.05 percent.

Major contributors to the key indices were HeroMoto, Bajaj Auto, Adani Ports, ITC, Sun Pharma, and SBI.