Nifty Firm Above 10,050, Sensex Tops 32,000; RIL Surges


Indian shares got on to the front foot on Wednesday with the BSE benchmark index – Sensex – jumping more than 150 points to reclaim the 32,000 mark. The NSE benchmark, Nifty, rose 50 points to hit an intraday high of 10,067.25. Retail investors and domestic financial institutions built up positions a day ahead of the release of data of IIP (Index of Industrial Production) for August and inflation for September. Gains were led by energy, metal, realty and infra shares, which were up between 0.5 per cent and 1.1 per cent. Bharti Infratel, GAIL India, Axis Bank, Reliance Industries and Bharti Airtel were among the top Nifty50 gainers – rising up to 2.1 per cent. The Sensex had gained 332.38 points in the previous three sessions.

Domestic markets also took support from the other Asian markets, where shares hit decade highs. The MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.5 per cent to 546.38, a level not seen since December 2007. Australian stocks jumped to one-and-a-half month highs while South Korea’s KOSPI added 0.6 per cent to within a whisker of record peaks. Japan’s Nikkei edged closer to a 21-month top. Wall Street scaled all-time highs overnight.

Reliance Industries gained 1.8 per cent to hit a day’s high of Rs. 858.40, ahead of its July-September quarter earnings later this week.

Midcap and smallcap shares were seen outperforming the broader indices in morning deals – up between 0.6 per cent and 0.75 per cent.

At 10:33, 33 stocks in the 50-scrip Nifty were trading in the positive zone. The BSE Sensex was up 156 points or 0.48 per cent higher at 32,080.26 while the Nifty was up 43 points at 10,059.90.