Sensex opens in green on value-buying, climbs 164 points

Sensex opens in green on value-buying, climbs 164 points

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,944.94 points, traded at 32,820.25 points - down 121.62 points or 0.37 per cent - from Tuesday's close.

At 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 45.60 points, or 0.45 per cent, at 10,141 points.

The BSE market breadth was bearish - 1,543 declines and 950 advances. The list had shed 1.7 for each penny over the past three sessions. Besides, a continued slide in crude oil prices drew investors' attention, fuelling buying in oil marketing company stocks, they added.

"Markets moved higher on the back of bargain hunting as traders wanted to take advantage of the recent decline".

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According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, shares rose during the day buoyed by gains in refiners such as Reliance Industries as oil prices dropped overnight after crude oil and gasoline stockpiles rose unexpectedly in the US. "Markets are nearer to their close term bolsters and are getting assistance from positive slant among Asian markets", said Sageraj Bariya, VP of institutional deals at East India. The Indian rupee weakened marginally against the USA dollar in the opening trade on Thursday.

The NSE Nifty50 fell by 68.55 points or 0.67 per cent to 10,118.05 points, while the Sensex of the BSE closed at 32,760.44 points - down 181.43 points or 0.55 per cent.

Among the top Sensex gainers, Reliance Industries jumped 2.6 percent, Tata Motors advanced 1.6 percent, Infosys gained 4 percent while State Bank of India rose 2.7 percent. Shanghai Composite, however, was down 0.10 per cent.

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