Stock Market LIVE:Sensex up 150pts led by ITC, tech shares; Tata Steel dips | News on Markets
The BSE Sensex had moved in a tight range of 78,896 – 79,157, and was up 150 points at 79,100 levels. The NSE Nifty 50 was seen hovering around 24,150 levels.
Tata Motors, up over 1 per cent, was the top gainer among the Sensex 30 stocks. SBI, Sun Pharma, Tech Mahindra and Larsen & Toubro were the other notable movers. On the other hand, Adani Ports, UltraTech Cement, ICICI Bank and Axis Bank were the notable losers.
In the broader market, the BSE MidCap index slupped over 1 per cent, while the SmallCap was down 0.7 per cent.
Overnight, the US market ended with strong gains, with Dow Jones up 1 per cent, and NASDAQ up 2.4 per cent, after PPI (Producer Price Index) inflation rose only 0.1 per cent on a monthly basis in July, compared with the 0.2 per cent rise expected; thus triggering a dip in bond yields and fueling expectations of a September rate cut.
Closer home in Asia, Nikkei, Kospi and Taiwan rallied over 1 per cent each, while Hang Seng added 0.2 per cent.
The stock market will be closed for trading tomorrow, August 15, on account of the Independence Day holday.
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