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Sensex, Nifty turn choppy; erase early gains on profit-booking

November 01, 2018 10:20

The BSE Sensex rose over 100 points Thursday, but turned choppy after investors began booking profits at higher levels. The benchmark indices opened higher led by banking and auto stocks amid sustained buying by domestic institutional investors, better-than-expected corporate earnings and positive global cues buoyed sentiment.

The 30-share Sensex rallied 149.36 points, or 0.44 per cent, to trade at 34,591.41 points. The gauge had climbed 550.92 points Wednesday. Sectoral indices led by capital goods, realty, infrastructure and auto were trading in the positive zone, with gains up to 4.29 per cent.

The broader NSE Nifty too surged 55 points, or 0.49 per cent, to 10,441.60 in opening session.

In the Sensex kitty, L&T took the top position by surging 5.73 per cent on the back of better-than-expected quarterly earnings posted by the company Wednesday.

Easing concerns around the rift between the government and RBI, after the Finance Ministry said the autonomy for the central bank, within the framework of the RBI Act, was an "essential and accepted" governance requirement, lifted the market in early trade, traders said. Other gainers that supported the key indices included Yes Bank, Tata Motors, ONGC, M&M, Axis Bank, Adani Ports, Tata Steel, Maruti Suzuki, HDFC Bank, PowerGrid, ITC Ltd, and Bajaj Auto, rising by up to 1.86 per cent. -- PTI

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