Equities trade higher led by PSU bank and realty stocks

Mumbai: Equity benchmark indices continued their upward march during early hours on Thursday amid optimism in global markets.

At 10:15 am, the BSE S&P Sensex was up by 215 points at 40,267 while the Nifty 50 edged higher by 65 points to 11,909. All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty PSU bank up by 2.4 percent and realty by 1.9 percent.

Among stocks, State Bank of India rose by 3.7 percent while Infosys was up by 2.3 percent and Wipro by 1.2 percent. The other prominent gainers were Grasim, HDFC Bank, Hero MotoCorp, Dr. Reddy’s, Titan and Nestle India.

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But Tata Steel, Mahindra & Mahindra, Bharti Infratel, Power Grid Corporation, and Yes Bank showed marginal losses.

Meanwhile, Asian shares and US stock futures edged higher after the US Federal Reserve cut interest rates for the third time in a row by 25 basis points as expected to keep the economic expansion on track. However, the Fed hinted that there will be no further cuts unless deemed necessary.

Japan’s Nikkei moved up by 0.36 percent, Hong Kong’s Hang Seng index by 1.06 percent and South Korea’s Kospi by 0.9 percent.

But the Shanghai Composite index slipped by 0.09 percent as data showed that factory activity in China shrank for the sixth straight month in October.

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