Indices extend gains; Sensex jumps over 200 points

Indices extend gains; Sensex jumps over 200 points

Indices extend gains; Sensex jumps over 200 points

The benchmark BSE Sensex was up 163 points or 0.50 percent at 33,112 in early trade after climbing over 1 percent on Thursday. Also, the central bank raised the inflation forecast for the remainder of the current fiscal to 4.3-4.7 per cent.

The 30-share Sensex opened on a negative note on across-the-board losses and touched a low of 32,682.52.

At 10:11 am, 44 stocks out of the 50-scrip Nifty index were trading in the positive zone.

Out of 1,980 stocks traded on the NSE, 1,199 advanced, 355 declined and 426 remained unchanged today.

Dalal Street saw investors hunting for bargains in recently-battered bank, auto and metal stocks, that came under the weather in the previous session on the back of the central bank's decision to hold repo rates in its sixth bi-monthly monetary policy meeting. SBI, ICICI Bank, Axis Bank, HDFC Bank, Bank of Baroda, Punjab National Bank and Yes Bank fell by up to 2.27 percent.

In sync with overall trend, the rupee too weakened to quote at 64.55 against the dollar intra-day.

The top losers were Bharti Infratel which feel over 2 percent followed by Coal India, Bajaj Finance, UPL and Yes Bank. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,470.56 crore, while domestic institutional investors (DIIs) bought to the tune of Rs 1,074.39 crore yesterday, as per provisional data released by the stock exchanges.

In broader markets, the BSE Midcap and BSE Smallcap indices were up 0.7% and 0.9%, respectively. Japan's Nikkei advanced 1.45%, Hong Kong's Hang Seng went up 0.29%, while China's Shanghai Composite Index surrendered 0.67%. London's FTSE rose 0.16% in late morning deals.

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