NEW DELHI: Domestic markets took heart from gains in US stocks in overnight trade, extending their gains to Wednesday's session. Improving global sentiment and renewed hopes of a trade deal lent some confidence to investors on Dalal Street.
US President Donald Trump insisted on Tuesday that trade talks with China have not collapsed and called the widening US-China tariff war “a little squabble”, even as his administration readies 25 per cent duties on all remaining Chinese imports. Expanding on a stream of optimistic early morning tweets, Trump told reporters that he has a “very good dialogue” going with China and touted his “extraordinary” relationship with Chinese President Xi Jinping.
Soothing oil prices contributed to the upbeat mood. Oil eased on Wednesday after closely watched data showed a surprise rise in US crude stockpiles, but prices were supported by mounting tensions in the Middle East, Reuters reported.
At around 9:30 am, Sensex was up 102 points or 0.27 per cent at 37,420. In the Sensex pack of stocks, 18 advanced while 12 declined.
Nifty50 rose 32 points or 0.28 per cent to 11,254. Among Nifty stocks, 29 stocks gained, 20 declined while one remained unchanged.
"The index has paused the ongoing correction by maintaining the rhythm of not correcting more than 10 to 11 sessions in a row, since July 2013. Therefore, follow through strength above 11,300 would be required to extend pullback towards 11,500 or else consolidation in the range of 11,000 – 11,300 as volatility ahead of key event of General Election 2019 would offer buying opportunity," said ICICI Securities.
The markets would keep an eye on stocks such as Lupin, Torrent Power, Manappura ..
US President Donald Trump insisted on Tuesday that trade talks with China have not collapsed and called the widening US-China tariff war “a little squabble”, even as his administration readies 25 per cent duties on all remaining Chinese imports. Expanding on a stream of optimistic early morning tweets, Trump told reporters that he has a “very good dialogue” going with China and touted his “extraordinary” relationship with Chinese President Xi Jinping.
Soothing oil prices contributed to the upbeat mood. Oil eased on Wednesday after closely watched data showed a surprise rise in US crude stockpiles, but prices were supported by mounting tensions in the Middle East, Reuters reported.
At around 9:30 am, Sensex was up 102 points or 0.27 per cent at 37,420. In the Sensex pack of stocks, 18 advanced while 12 declined.
Nifty50 rose 32 points or 0.28 per cent to 11,254. Among Nifty stocks, 29 stocks gained, 20 declined while one remained unchanged.
"The index has paused the ongoing correction by maintaining the rhythm of not correcting more than 10 to 11 sessions in a row, since July 2013. Therefore, follow through strength above 11,300 would be required to extend pullback towards 11,500 or else consolidation in the range of 11,000 – 11,300 as volatility ahead of key event of General Election 2019 would offer buying opportunity," said ICICI Securities.
The markets would keep an eye on stocks such as Lupin, Torrent Power, Manappura ..
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