Sensex up 49 points in late morning trade

The S&P BSE benchmark Sensex moved up further for the third consecutive day, advancing 49 points on the back of persistent foreign capital inflows despite weak Asian cues.

Foreign institutional investors (FIIs) continued their buying spree by investing net Rs 1,158.57 crore on Monday, as per provisional data from the stock exchanges.

Shares of metal, capital goods, realty, refinery, auto and tech firmed up on sustained buying enquiries.

The Sensex resumed higher at 20,870.16 and hovered in a range of 20,984.40 and 20,852.87 before quoting at 20,899.82 at 1030 hrs, showing a net gain of 49.08 points or 0.24 per cent from its last close.

The NSE 50—share Nifty also moved up by 12.50 points, or 0.20 per cent, to 6,201.50 at 1030 hrs.

Major gainers were Hindalco Ind (3.99 per cent), Jindal Steel (8.68 per cent), Maruti (1.79 per cent), Bharti Airtel (1.70 per cent), Larsen (1.63 per cent), Gail India (1.31 per cent).

Asian markets were mostly lower after previous session’s hefty gains on China’s economic reform plans. Key benchmark indices in China, Singapore, Japan and Indonesia fell between 0.10 per cent and 0.73 per cent while indices in Taiwan, Hong Kong, and South Korea rose in the range of 0.22—0.8 per cent.

US stocks were mostly lower on Monday as the Standard & Poor’s 500 and Nasdaq Composite index ended lower.

The Dow Jones industrial average eked out a slight gain but failed to close above its milestone level of 16,000, as stocks sold off late in the session after cautious comments by activist investor Carl Ichan on the equities market.