Wednesday , October 19 2016
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Stock markets continues rally amid strong global cues


New Delhi :Sensex surged 80 points on Wednesday morning amid strong global cues, extending its Tuesday’s rally owing to a firming trend at Asian markets after data showed China’s economy is stabilising.

Sustained foreign capital inflows and the rupee covering more ground against the dollar gave trading sentiment a lift too. The local unit appreciated further by 6 paise to 66.67 at the forex market today.

The 30-share index was trading higher by 80.19 points, or 0.28 per cent, at 28,131.07, with power, healthcare, oil & gas and PSU sectors all bringing up gains.

The benchmark index had rallied 521 points, its biggest single-day gain in nearly five months on Tuesday. The NSE index Nifty too was quoting higher by 20.85 points, or 0.24 per cent, at 8,698.75.

Sentiment remained buoyant on continued foreign inflows and persistent buying by investors amid overnight gains in the US and a firming trend at other Asian bourses on reports that China’s economy expanded more than expected in the third quarter, brokers said.

Japan’s Nikkei gained 0.14 per cent while Shanghai Composite was up 0.13 per cent in early session on Wednesday. Hong Kong’s Hang Seng, however, was down 0.11 per cent. The US Dow Jones Industrial Average ended 0.42 per cent higher on Tuesday.


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