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Sensex up on easing trade tension, monsoon forecast

IANS  |  Mumbai 

Signs of easing US-trade tension and expectation of cooling following Met department's forecast of near-normal monsoon aided the benchmark Sensex to close 138 points higher on Monday.

The Nifty IT and led the gains on the bourses. While rose on cooling US-trade tension and encouraging China's trade data released over the weekend, the export-oriented IT stocks gained owing to the weakening rupee.

led the gains on the Sensex as the investors reacted positively to its fourth quarter earning outcome of Friday. It finished nearly 5 per cent higher. on the contrary fell steeply after it missed Dalal Street's earning expectation.

The S&P advanced 138.73 points or 0.36 per cent to 38,905.84. The broadbased Nifty gained 46.90 points or 0.40 per cent to end at 11,690.35.

"Market traded on a positive note as expectation of US-trade agreement and a likely turnaround in domestic earnings steered the sentiment. IT index outperformed due to weak rupee and optimism in earnings growth," said Vinod Nair, Head of Research,

"WPI inched to 3.18 per cent in March due to rise in food prices, while (IMD)'s forecast of near-normal monsoon may ease the concerns over "

IT heavyweights reacted on line expected lines, with falling due to guidance cut, while rose after posting strong numbers. continued its upward move seemingly benefiting from the woes at rival Jet Airways, said of

"Rail Vikas Nigam seemed to have attracted institutional buying after its debut last week. The stock rose almost 20 per cent."

--IANS

ravi/nir

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

First Published: Mon, April 15 2019. 17:10 IST
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