Sensex continues positive momentum, up over 100 points
Mumbai: The BSE Sensex maintained its momentum in afternoon session following sustained bouts of buying in shares of led by realty, auto, industrials, capital goods, despite weak Asian trend.
Domestic funds got into action as the market awaited tariffs from the US and China to take effect later today.
The 30-share index was trading higher at 35,712.11, showing a gain of 137.56 points, or 0.39 per cent at 1245 hrs.
The broader Nifty-50 index was trading at 10,791.80, a gain of 42.05 points, or 0.39 per cent.
Major gainers were Tata Motors, Hero MotoCorp, Bajaj Auto, Tata Motors DVR and Reliance Industries.
Most Asian markets declined, as investors braced for developments on the global trade front and markets awaited tariffs from the US and China to take effect later today.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 159.37 crore on a net basis, while domestic institutional investors (DIIs) also sold equities to the tune of Rs 296.97 crore yesterday, provisional data showed.
US stocks settled higher yesterday, in a broad rally that was led by the technology sector. The minutes from the US Federal Reserve June policy meeting were in line with market expectations for further interest rate increases this year.
Indian markets expected to open sideways due to weak Asia cues. Nifty resistance seen at 11180, support seen at 10900,10830.
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