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Nifty, Sensex keep moving up, but at a lower pace

Press Trust of India  |  Mumbai 

The early market thrust which propelled the beyond the 9,200 level for the first time today appeared to be slowing as both key indices came off their highs hit earlier in the day.

The prospects of a steady approach to US removed a big uncertainty, which gave markets enough to cheer for.


The Council yesterday cleared the two remaining pieces of supporting legislation, paving the way for their introduction in and state legislatures for the planned rollout of the indirect reform in July.

While the traded up by 110.05 points, or 0.37 per cent, at 29,695.90 at 1138 hours, the came in below the 9,200 mark at 9,161.75, up 8.05 points, or 0.09 per cent.

The stocks have been spurred by buying in key FMCG heavyweight Investors bet that favourable liquidity will continue to spur the rally in emerging markets.

The opened gap-up and hovered between 29,824.62 and 29,671.47.

The big gainers were (7.33 per cent), along with Maruti, Lupin, Axis Bank and Hero MotoCorp.

Meanwhile, foreign funds bought a net Rs 1,360.10 crore yesterday, according to provisional data.

Asian stocks extended their previous climb. US stocks closed mostly lower yesterday as modest gains in financial stocks failed to offset declines in healthcare and utilities stocks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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