Sensex rises 280 points, Nifty nears 10,700; Vedanta, Tata Steel, ONGC top gainers

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Sensex rises 280 points, Nifty nears 10,700; Vedanta, Tata Steel, ONGC top gainers

Banking and consumer durables stocks led the gains with the BSE indices rising 260 points and 247 points. All 19 BSE sectoral indexes were trading in green. Market breadth was positive with 1088 stocks trading higher compared to 426 falling on the BSE.

The Sensex and Nifty started on a positive note on Wednesday amid higher Asian markets. While the Sensex rallied over 280 points to 35,633 in early trade, the Nifty climbed 86 points to 10,690. Vedanta Ltd (2.81%), Tata Steel (2.24%), ONGC (1.58%) and YES Bank (1.53%) were the top Sensex gainers. Top Sensex losers were HCL Tech (0.85%), Hero MotoCorp (0.65%) and Bajaj Auto (0.56%).

On Tuesday, the 30-share Sensex closed 145 points lower at 35,352 and Nifty lost 36 points to 10,604. Meanwhile, the mid cap and small cap indices were trading 108 points and 94 points higher in early trade.

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Banking and consumer durables stocks led the gains with the BSE indices rising 260 points and 247 points. All 19 BSE sectoral indexes were trading in green.

Market breadth was positive with 1088 stocks trading higher compared to 426 falling on the BSE. On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 813 crore on Tuesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 1163 crore, provisional data available with BSE showed.

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Global markets Shares were mostly higher in Asia on Wednesday after a modestly high finish on Wall Street that extended the market's gains into a fourth week.

The Nikkei 225 index rose 0.6 percent despite news that Japan's exports sank 8.4 percent in January from a year earlier, far more than forecast.

Hong Kong's Hang Seng index jumped 0.7 percent, while the Shanghai Composite slipped 0.2 percent. South Korea's Kospi jumped 0.9 percent to 2,225.67 and the S&P ASX 200 slipped 0.4 percent to 6,084.10.

Edited by Aseem Thapliyal