Sensex Gains 100 Points, Nifty Above 24,150; Nykaa Jumps 4%

Indian equity benchmark indices on Wednesday started trade on a positive note mimicking strength in the global peers.

The BSE Sensex was up 50-odd points at 79,000 levels. The NSE Nifty 50 touched a high of 24,196, and was seen hovering around 24,150 levels.

Tata Motors, up over 1 per cent, was the top gainer among the Sensex 30 stocks. SBI, Sun Pharma, Tech Mahindra and Larsen & Toubro were the other notable movers. On the other hand, Adani Ports, UltraTech Cement, ICICI Bank and Axis Bank were the notable losers.

In the broader market, the BSE MidCap index was up 0.1 per cent, while the SmallCap was down 0.1 per cent.

Global Cues

Overnight, the US market ended with strong gains, with Dow Jones up 1 per cent, and NASDAQ up 2.4 per cent, after PPI (Producer Price Index) inflation rose only 0.1 per cent on a monthly basis in July, compared with the 0.2 per cent rise expected; thus triggering a dip in bond yields and fueling expectations of a September rate cut.

Closer home in Asia, Nikkei, Kospi and Taiwan rallied over 1 per cent each, while Hang Seng added 0.2 per cent.