Mumbai: The benchmark Nifty on Monday climbed to new life high of 10,167.15 and the Sensex surged over 235 points in the opening session on fresh capital inflows by foreign funds amid positive global cues. The rally came on the back of buying in capital goods, auto, power, PSU and banking stocks, rising by up to 1.44%. The NSE Nifty jumped 81.75 points, or 0.81%, to scale a life high of 10,167.15, breaking its previous intra-day record of 10,137.85 hit on 2 August.

Continued buying by domestic institutional investors (DIIs) and fresh fund inflows by foreign investors, which had been on selling spree, bolstered the trading sentiment, traders said. Besides, a firming trend at other Asian markets following another record finish on Wall Street influenced the sentiment, they added. Hong Kong’s Hang Seng was trading higher by 1.07%, while Shanghai Composite rose 0.25% in late morning trade. Japanese financial markets are closed for a public holiday on Monday. The US Dow Jones Industrial Average closed at new highs in Friday’s trade. Here are the latest updates from the market:

■ 10.30am: BSE Sensex traded higher by 185 points, or 0.57%, to 32,458, while the Nifty 50 rises 70 points, or 0.70%, to 10,156.

■ 10.25am: Reliance Communications Ltd fell 2.2% to Rs 20.05. Sweden’s Ericsson filed a plea with an insolvency court against Reliance Communications. Ericsson, which signed a seven-year deal in 2014 to operate and manage Reliance Communications’ nationwide network, is seeking a total of Rs1,155 crore ($180 million) from the company and two of its subsidiaries

■ 10.22am: Pharma stocks fell. Divi’s Laboratories Ltd fell 7%, Ipca Laboratories Ltd 3.1%, Sun Pharmaceuticals Industries Ltd 1.7%, Alkem Lab 1.6%, Dr Reddy’s Laboratories Ltd 1.1%, Aurobindo Pharma 1.1%, Wockhardt Ltd 0.6%.

■ 10.17am: Alkem Laboratories Ltd fell 3.2% to Rs 1750 after the company said in a notice to BSE that US drug regulator has issued three observations for its Baddi unit.

■ 10.05am: PTC India rose 3.7% to Rs 126.45. Some institutional investors of PTC India now want their own representative on the board of directors of the country’s largest power trading firm, citing undervalued stock and financial inefficiency, Economic Times reported.

■ 10.00am: Cadila Healthcare Ltd rose 1.2% to Rs 487 after the company said Nesher Pharmaceuticals, a subsidiary of its US arm, has received final approval from the US health regulator to market Oseltamivir used for treatment and prevention of influenza.

■ 9.55am: BS Ltd fell 3% after the company said it got notice under SARFAESI act from State Bank of India.

■ 9.53am: BSE Sensex opened higher by 215 points, or 0.67%, to 32,488, while the Nifty 50 rises 79 points, or 0.78%, to 10,164.

■ 9.45am: Dr Reddy’s Laboratories Ltd fell 0.6% to Rs 2198.10 after US drug regulator issued three observations on its UK factory.

■ 9.40am: Tata Motors Ltd rose 2.1% to Rs 409.85. The company said its compact SUV offering Nexon will be launched on September 21.

■ 9.38am: Allahabad bank rose 1.2% to Rs 73.40. The board of state-owned Allahabad Bank will meet on Wednesday to consider a draft scheme of amalgamation of its wholly-owned subsidiary AllBank Finance. AllBank Finance (ABFL) is a leading merchant banker and has been holding licence for Debenture Trusteeship since February 2010.

■ 9.33am: Mahanagar Gas Ltd rose 1.2% to Rs 1129.30. The company said it commenced PNG supply in Dombivili.

■ 9.22am: BSE Sensex opened higher by 200 points, or 0.65%, to 32,482, while the Nifty 50 rises 70 points, or 0.70%, to 10,156.

■ 9.20am: The rupee opened at 64.07 a dollar. At 9.15am, the rupee was trading at 64.04 a dollar, up 0.06% from its Friday’s close of 64.08

■ 9.17am: Bond yield hit fresh 15-week high. The 10-year bond yield was at 6.607% compared to its previous close of 6.597%. Bond yields and prices move in opposite directions.

■ 9.15am: Asian currencies were trading higher as dollar weakened after US secretary of state Rex Tillerson said his country is seeking a peaceful resolution to end the nuclear standoff with North Korea. South Korean won was up 0.41%, Philippines peso 0.17%, Malaysian ringgit 0.14%, Singapore dollar 0.13%, China renminbi 0.08% and Thai baht 0.05%. However, Japanese yen was down 0.33% and Taiwan dollar fell 0.06%.

■ 9am: The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.869, down 0.01% from its previous close of 91.872.

Source:livemint.com