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Sensex rises 150 points, Nifty nears 11,900 ahead of F&O expiry

Among Sense stocks, SBI was the biggest gainer, up 2.88 per cent at Rs 298.30.|
Oct 31, 2019, 09.44 AM IST
NEW DELHI: Domestic equity market opened higher in Thursday's session ahead of the expiry of October futures and options contracts. The benchmark indices Sensex and Nifty were hovering close to their all-time highs in opening trade.

Strong inflows from foreign institutional investors (FIIs) along with a rate cut by the US Federal Reserve buoyed investor sentiment back home.

Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 7,192.42 crore on Wednesday, data available with NSE suggested.

The 30-share BSE benchmark Sensex was up 150 points at 40,202. Its NSE counterpart Nifty was up 43.80 points at 11,887.90. Broader market was trading in tandem withe the headline peers as Nifty Smallcap was up 0.5 per cent at 5,756 and Nifty Midcap gained 0.42 per cent to 16,653.

All sectoral indices on NSE were trading in the green. Nifty PSU Bank was the biggest gainer, edging 1.68 per cent higher to 2,454. Central Bank continued to gain for the second day after the company unveiled fund-rising plans. The lender was up 7.19 per cent at Rs 22.35 on NSE. Syndicate Bank followed with 6.55 per cent gain.

Among Sense stocks, SBI was the biggest gainer, up 2.88 per cent at Rs 298.30. Infosys rose 2 per cent to Rs 673.80 and ITC with an addition of 1.14 per cent was trading at Rs 262.

Bharti Airtel was the biggest loser, shedding 0.6 per cent to Rs 366. Power Grid, Axis Bank and Maruti Suzuki were also trading with minor losses in the opening trade.

IOC, Dhanlaxmi Bank, Syndicate Bank, Spandana Sphoorty Financial, Blue Dart and Thirumalai Chemicals are among some of the firms that will declare Q2 earnings later in the day.

Asian shares rose on Thursday and US stock futures edged higher after the US Federal Reserve cut interest rates as expected to keep the economic expansion on track.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent. Japan's Nikkei stock index rose 0.41%, but Australian shares fell 0.24 per cent.

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