Nifty tops 10K as global frictions ease, macro data ahead

Sensex opens on higher note rallies nearly 200 points Nifty up by 10,000

Because of the buying pick-up, the 30-share BSE index opened higher and hit the day's high of 31,952.87, but settled at 31,882.16, up 194.64 points - 0.61 per cent. Investors were relieved that tensions over North Korea eased in recent days while the Hurricane Irma didn't cause as much damage as feared. Japan's Nikkei added 1.0 per cent. The dollar gained against global currencies amid the United Nations' move to impose fresh sanctions on North Korea.

Investors and market participants are looking forward to August CPI inflation and July IIP data which is scheduled for later today to watch for any turnaround after the disruption caused by GST.

Among the top index gainers, Tata Steel advanced 3.1 percent, Sun Pharma rose 3 percent, Tata Motors rose 3.4 percent while Hindustan Unilever gained 2.4 percent.

L&T gained 3.80%, Asian Paints surged 2.84%, Maruti ended up 2.86%, and HDFC Bank closed with gains of 1.95%. "Going ahead, there could be profit booking in the mid-cap and small-cap space". Britain's FTSE 100 was also up, gaining 0.2 percent to 7,428.48.

Tata Steel rose 3.3% to 683.15 rupees, following reports Germany's Thyssenkrupp could reach an in-principle agreement this month to merge its European steel business with the company. Sun Pharmaceutical Industries gained 3.4 percent on receiving approval from the US health regulator for a cholesterol drug.

Among the laggards, Speciality Restaurants declined 4 percent its loss for the June quarter widened to Rs 15 crore from Rs 5.6 crore a year ago.

The market breadth, indicating the overall health of the market, turned positive.

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