Sensex rises over 150 factors in early commerce, Nifty above 16,300-mark

Equity benchmark Sensex jumped over 150 factors in early commerce on Thursday, monitoring good points in index heavyweights ITC, ICICI Bank and Reliance Industries amid a largely constructive development in world markets.
The 30-share index was buying and selling 155.90 factors or 0.29 per cent larger at 54,681.83, whereas the broader NSE Nifty superior 42.90 factors or 0.26 per cent to 16,325.15.
PowerGrid was the highest gainer within the Sensex pack, rising over 2 per cent, adopted by ITC, M&M, Bajaj Auto, ICICI Bank and Tata Steel.
On the opposite hand, Kotak Bank, IndusInd Bank, Dr Reddy’s, Sun Pharma and Asian Paints have been among the many laggards.

In the earlier session, Sensex ended 28.73 factors or 0.05 per cent decrease at 54,525.93, whereas Nifty inched up 2.15 factors or 0.01 per cent at 16,282.25.
Foreign institutional buyers (FIIs) have been internet patrons within the capital market as they bought shares price Rs 238.14 crore on Wednesday, as per provisional change information.
“Global equity markets have positive news from the US inflation data for July which has come at 0.5 per cent month-on-month. This is slightly lower than expected and confirms the Fed thesis that inflation is transitory,” mentioned V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The constructive response of Dow and S&P to the inflation numbers and the decline within the greenback index will strengthen the bulls.

Elsewhere in Asia, bourses in Tokyo and Seoul have been buying and selling with good points in mid-session offers, whereas Shanghai and Hong Kong have been within the purple.
Meanwhile, worldwide oil benchmark Brent crude rose 0.04 per cent to USD 71.47 per barrel.