Mumbai: The BSE benchmark Sensex surged117.51 points in late morning deals on buying in key heavyweights of FMCG, auto, capital goods, teck, consumer durables, oil&gas and energy, despite weak Asian cues.
Rising hopes of GST passage this week and a rise in core infrastructure sectors, which jumped to 5.2 per cent in June from 2.8 per cent a month ago, are driving the market momentum.
The 30-share index resumed higher at 28,069.12 and hovered between 28,175.22 and 28,000.94. It was quoting 28,117.51 at 1100 hours, showing a gain of 1117.51 points or 0.42 per cent from its last close. The NSE 50-share Nifty also trading higher by 29.40 points or 0.34 per cent at 8,665.95.
Major gainers were, ITC 2.99 pct, Maruti 2.20 pct, Heromoto 1.56 pct, HUL 1.41 pct, Tata Steel 1.21 pct and L&T by 1.07 per cent. Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 726.22 crore yesterday, as per provisional data released by the stock exchanges.
Overseas, most Asian markets fell with stocks taking cues from a modestly lower day on Wall Street overnight as US crude oil prices slid. US stocks lost momentum to finish mostly lower yesterday as crude-oil futures returned to bear-market territory and weaker-than-expected manufacturing data raised doubts about the strength of the economy.
