Mumbai, Sep 17 : Benchmark indices Sensex and Nifty rose for the second day on Wednesday on buying in IT, banking, and auto shares by investors enthused by positive day-long discussions with the visiting US team on a bilateral trade deal.
The 30-share BSE Sensex edged higher by 313.02 points or 0.38 per cent to settle at 82,693.71. During the day, it jumped 361.26 points or 0.43 per cent to 82,741.95.
The 50-share NSE Nifty climbed 91.15 points or 0.36 per cent to 25,330.25.
Growing expectations of a rate cut by the US Federal Reserve and positive US-India discussions on a proposed trade deal helped stock markets extend their rally, analysts said.
Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers.
However, Bajaj Finserv, Titan, ITC and Tata Steel were among the laggards.
The day-long discussions with the visiting US team on a bilateral trade deal were positive, and both sides agreed to push for an early and mutually beneficial conclusion of the agreement, the Commerce Ministry said on Tuesday.
“It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement,” the ministry said in a statement after a day-long meeting with the US officials.
In Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in positive territory while South Korea’s Kospi and Japan’s Nikkei 225 index ended lower.
Markets in Europe were trading mostly higher. US markets ended lower on Tuesday.
Global oil benchmark Brent crude declined 0.58 per cent to USD 68.07 a barrel.
Foreign Institutional Investors (FIIs) turned buyers on Tuesday. They bought equities worth Rs 308.32 crore, according to exchange data.
On Tuesday, the Sensex jumped 594.95 points or 0.73 per cent to settle at 82,380.69. The Nifty climbed 169.90 points or 0.68 per cent to 25,239.10. (PTI)
