Published: Mon, April 09, 2018
Business | By Tara Barton

Sensex rises by over 100 points; Nifty above 10375-mark

Sensex rises by over 100 points; Nifty above 10375-mark

Forex dealers for Monday trading in a PTI report said, "Besides, a higher opening of the domestic equity market and weakness in the dollar against other global currencies, following data that showed the United States economy created the least number of jobs in six months in March, supported the rupee, forex dealers said".

"On the domestic front, the inflation, IIP and trade deficit data would be closely watched, especially after the growth forecasts offered by RBI (Reserve Bank of India) in its policy", Devendra Nevgi, Founder and Principal Partner, Delta Global Partners, told IANS.

The focus now turns to quarterly earnings this week, with IT major Infosys likely to declare its March quarter results on Friday. Apart from the fourth-quarter results, investors will look out for the upcoming macro-economic data points such as the IIP (Index of Industrial Production) and the balance of trade figures.

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"Market participants would also closely watch each developments on the trade war between the USA and China", D.K. Aggarwal, Chairman and Managing Director of SMC Investments and Advisors, told IANS. Along with the rising trade war tension between China and the U.S., the report from the Labour Department indicating United States job growth had slowed much more than anticipated dampened the sentiments further. "Market is expected to remain volatile going forward tracking global cues".

At 11:53 AM, the BSE Sensex was trading at 33,772, up 145 points, while the Nifty50 index was trading at 10,378, up 47 points.

Out of 2,040 stocks traded on the NSE, 1,235 advanced, 390 declined and 415 remained unchanged today. The SGX Nifty is pointing that Nifty may open lower by 34 points at 10,308. Buoyed by global cues and the "dovish" tone of Reserve Bank of India's (RBI) monetary policy which came last week, the BSE index has gained nearly 1,000 points in the last few sessions.

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