Sensex Edges Higher, Infosys Shares Fall For Second Day
Indian markets edged higher on Tuesday, buoyed by gains in metal, auto and capital goods stocks. Asia stocks rose modestly today following data showing China’s economy grew a little faster than expected in the first quarter. China’s economy grew 6.8 per cent in the first quarter of 2018 from a year earlier, official data showed on Tuesday, unchanged from the previous quarter. But separate data showed March industrial output missed expectations and first-quarter fixed-asset investment growth slowed, tempering equity market gains.
The Sensex was up 25 points to 34,330 while Nifty edged higher to 10,534. Infosys shares fell nearly 1 per cent today, extending their 3 per cent decline suffered on Monday.
The rupee edged higher to 65.42 against the US dollar today. The rupee on Monday fell by 29 paise to close at a six-month low of 65.49 against the US currency on widening trade deficit concerns amid heightened geopolitical worries. On Monday, the Sensex and Nifty closed higher for an eighth straight session in their longest winning run since late November.
Overnight, the Dow gained 0.87 percent and the S&P 500 rose 0.8 per cent on Monday, with the biggest boosts from technology and healthcare sectors as investors were optimistic about the earnings season and appeared less worried about US-led missile attacks in Syria.
The dollar index against a basket of six major currencies was little changed at 89.441 after losing 0.4 per cent overnight. The euro was steady at $1.2377 while the dollar was effectively flat at 107.060 yen
US crude oil futures rose 0.4 percent to $66.49 a barrel after tumbling nearly 1.8 percent overnight as concerns over tensions in the Middle East waned. Brent crude climbed 0.3 percent to $71.61 a barrel.