Sensex Jumps Over 100 Points; Energy, Pharma Stocks Gain

Sensex Jumps Over 100 Points; Energy, Pharma Stocks Gain

Indian shares opened higher on Thursday tracking Asian shares, which advanced as oil prices climbed off a 10-month low hit overnight on concerns over a supply glut and falling demand. The BSE Sensex jumped over 130 points to 31,417 while the Nifty50 index gained nearly 35 points to 9,669. Buying was visible across the sectors although energy and auto stocks gained the most.

Reliance Industries was the top gainer in Nifty up 1.2 per cent. Including today’s gains, the stock has rallied over 10 per cent in last one month. Tata Motors DVR, Ambuja Cements, Yes Bank, Aurobindo Pharma were the other major gainers in the Nifty rising between 1-1.2 per cent.

Meanwhile, Gail India was the top loser in Nifty, down 1.29 per cent followed by Hindustan Unilever, Lupin, Tata Power, Wipro and ONGC.

Buying was also visible in mid and small cap shares. The BSE Mid Cap index gained 0.49 per cent while BSE Small Cap index advanced 0.63 per cent.

Elsewhere, other Asian shares advanced on Thursday. Japan’s Nikkei was up 0.13 per cent, Shanghai Composite added 0.76 per cent while Shanghai Composite advanced 0.76 per cent as of 9.35 am.

Overnight, Dow Jones Industrial Average closed down 0.3 per cent tracking continued selloff in crude oil prices, the S&P 500 was slightly lower and Nasdaq closed up 0.7 per cent, lifted by biotech stocks.