Sensex Climbs 200 Points: Stock Market Rally Continues

Mumbai, Sep 2 (PTI) Benchmark indices Sensex and Nifty rallied in early trade on Tuesday, extending previous session's gains, as investors' sentiment remained buoyant amid strong macroeconomic data.

The 30-share BSE Sensex climbed 207.45 points to 80,571.94 in early trade. The 50-share NSE Nifty advanced 60.8 points to 24,685.85.

From the Sensex firms, Reliance Industries, Eternal, NTPC, Bharti Airtel, Bajaj Finance and Hindustan Unilever were among the major gainers.

However, Asian Paints, Infosys, Mahindra & Mahindra and Trent were among the laggards.

Indian manufacturing sector witnessed the fastest improvement in operating conditions in over 17 years in August, driven by an increased production efficiency and healthy demand conditions, a monthly report said on Monday.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from 59.1 in July to 59.3 in August, indicating the fastest improvement in operating conditions for 17-and-a-half years.


In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.

In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index traded in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng quoted lower.

US markets were closed on Monday for the Labour Day holiday.

On Monday, the Sensex jumped 554.84 points or 0.70 per cent to settle at 80,364.49, and the Nifty climbed 198.20 points or 0.81 per cent to 24,625.05.

"Yesterday's rally was driven by a better-than-expected GDP growth print of 7.8 per cent for Q1 (April–June), reinforcing optimism around India's growth trajectory," Hariprasad K, Research Analyst and Founder - Livelong Wealth, said.

Global oil benchmark Brent crude climbed 0.43 per cent to USD 68.44 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,429.71 crore on Monday, while Domestic Institutional Investors (DIIs) bought worth Rs 4,344.93 crore, according to exchange data.