Thursday 28 April 2016

Sensex edges up ahead of expiry, nifty races to six-month high

The Stock Market benchmark Sensex added to its Tuesday’s rally by gaining 57 points on Wednesday and the NSE Nifty pulled off a nearly 6-month closing high on increased buying in oil & gas and IT amid persistent foreign inflows and solid quarterly numbers so far.

The 50-share NSE Nifty rose 17.25 points, or 0.22 percent, to 7979.90 at the close its biggest closing since November 4, 2015. 

Moreover, covering-up of short positions ahead of tomorrow’s expiry of April series in the derivatives segment supported the upside.Sentiment took on more sine after global crude rallied to this year’s high, backed up by a falling output and a weaker doller.

The US benchmark Brent crude oil surged 2.34 percent to 46.81 per barrel in global market.

The rupee, on a firmer ground against the dollar, also had a bearing on the market mood. Asia and Europe, however, traded lower as investors chose to remain cautious ahead of the outcome of the US Feral Reserve meeting later in the day. Focus is also on the Bank of Japan, which is set to meet on Thursday. 

At one point, the 30-share BSE Sensex slipped below the 26000 mark.
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