Share Market Update: Indices kick June session on high; Sensex jumps above 40,000 pts, Nifty near 12,000

BSE Sensex and NSE Nifty 50 opened higher on Friday, tracking global cues and ahead of GDP data for the Jan-Mar quarter.

By : ABP News Bureau | Updated at : 31 May 2019 10:19 AM (IST)

Share Market Update: Indices kick June session on high; Sensex jumps above 40,000 pts, Nifty near 12,000 Share Market Update: Indices kick June session on high; Sensex jumps above 40,000 pts, Nifty near 12,000

Indian currency fell marginally by 4 paise against the US dollar. (File Photo/ Getty)

Sensex is trading 200 points up at 40,024

Nifty is trading 60 points higher at 12,005.08

Bharti Airtel and Coal India emerged as top gainers

Share Market Update: A day after Modi government 2.0 took oath at the Rashtrapati Bhavan, key domestic indices BSE Sensex and NSE Nifty 50 opened higher on Friday, tracking global cues and ahead of GDP data for the Jan-Mar quarter. The Sensex jumped past the 40,000 –mark, while the Nifty reclaimed 12,000 in the opening trade on Friday. In the opening session, Sensex is trading 200 points up at 40,024, while the Nifty is trading 60 points higher at 12,005.08. Bharti Airtel and Coal India emerged as top gainers with their stocks surging by 2 per cent. In the pre-opening trade, Coal India share jumped to 3.2 per cent. The gross domestic product data for January-March quarter and provisional estimates for the whole 2018-19 fiscal year ending in March will be released anytime soon. The Indian currency fell marginally by 4 paise against the US dollar to close at 69.87 per greenback. Top gainers in the Sensex pack include Asian Paints, Coal India, TCS, ONGC, HCL Tech, L&T, Axis Bank, SBI and IndusInd Bank, rising up to 3 per cent. On the other hand, Yes Bank, Tata Motors, NTPC, Vedanta, M&M and RIL were the top losers, shedding up to 0.32 per cent. "Indian markets seem to be defying gravity as they continue to rally. The positive sentiments are driven by investors conviction in current government's ability to drive strong growth," Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management told news agency PTI.

"The Indian market has significantly outperformed its emerging market peers in anticipation of positive election outcome and strong foreign flows and further moves are likely to be determined by policy initiatives, budget and RBI monetary policy," he added. Meanwhile, foreign institutional investors (FIIs) bought equities worth Rs 1,664.74 crore on Thursday, while domestic institutional investors (DIIs) sold shares to the tune of Rs 1,122.60 crore, provisional data available with stock exchanges showed. Brent crude futures, the global benchmark, were trading 1.04 per cent lower at 64.65 per barrel.

Published at : 31 May 2019 09:53 AM (IST)

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Share Market Update Nifty Sensex