Gains in IT stocks led to a rise of over 100 points in Sensex on August 20, 2019. The impressive growth of over 100 points came due to positive cues from global markets. The 30-share was trading at 0.27% higher at 37,502.72 marked at 100.23 as of 9:30 A.M. Nifty also saw a jump of about 0.15% or 16.15 points and rose to 11,070.05 in morning trade.
August 19 was a bit slower and saw a rise of 0.14% or 52.16 points in BSE Sensex, while NSE Nifty managed to up by 6.10 points or 0.06% higher. The 30-share settled at 37,402.49 and 11,053.90 on BSE Sensex and Nifty respectively.
The top gainers in the 30-share Sensex pack which rose to 2% are TCS, Infosys, Hero MotoCorp, TechM, HCL Tech, and PowerGrid. There are others in the pack, such as Yes Bank, Bajaj Finance, IndusInd Bank, Axis Bank, and Sun Pharma which rose to 4.5%. As per traders, the domestic equities took a cue from global equities, which rallied in expectations of positive stimulus measures by Chinese and German Governments. Somewhere later this week, the Federal Reserve Chair Jerome Powell in Jackson Hole, Wyoming, U.S., may issue comments on the phenomenon.
Other Asian equity benchmarks such as Hang Seng, Shanghai Composite Index, Nikkei, and Kospi also saw rising patterns and traded in the green in late morning hours. On the other front, shares worth Rs. 305.74 crore were sold by foreign portfolio investors and domestic institutional investors bought shares worth Rs. 386.23 crore.