Sensex jumps nearly 540 pts on Asian stocks rally

Mumbai: Benchmark Sensex jumped nearly 540 points while Nifty closed above the 25,200 level on Wednesday following a positive trend in Asian markets after Japan secured a trade deal with the US.

The 30-share BSE Sensex jumped 539.83 points or 0.66 per cent to settle at 82,726.64. During the day, it surged 599.62 points or 0.72 per cent to 82,786.43.

The 50-share NSE Nifty gained 159 points or 0.63 per cent to settle at 25,219.90.

Among Sensex firms, Tata Motors, Bharti Airtel, Bajaj Finance, Maruti, Bajaj Finserv, ICICI Bank, HDFC Bank and Reliance Industries were the major gainers.

However, Hindustan Unilever, UltraTech Cement, Bharat Electronics and ITC were among the laggards.

In Asian markets, Japan’s Nikkei 225 index jumped 3.51 per cent as US President Donald Trump announced a trade deal with Japan, with a 15 per cent tax on goods imported from that country. South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in positive territory.

“On the global stage, investor sentiment soared following optimistic developments surrounding the US-Japan trade pact, igniting expectations for further international agreements in the near future,” according to Ashika Institutional Equities.

Markets in Europe were trading in the green. The US markets ended mostly higher on Tuesday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,548.92 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,239.77 crore in the previous trade.

Global oil benchmark Brent crude dipped 0.45 per cent to USD 68.29 a barrel.

The rupee stayed weak for the sixth consecutive session and settled with a loss of 3 paise at 86.41 against the dollar on Wednesday, amid a strong American currency and outflow of foreign funds.

PTI

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