Sensex climbs 162 points on renewed hope of US tax cuts

Sensex climbs 162 points on renewed hope of US tax cuts

"Though feeble, upsides prevailed in the previous session, and on anticipated lines".

At 9.45 am, the Sensex was trading 54 points or 0.18 per cent higher at 29,476 while the Nifty50 was trading 17 points or 0.19 per cent up at 9,154.

Among the BSE sectoral indices, Oil & Gas index registered the biggest gain with a jump of 1.1 per cent. Telecom (up 0.8 per cent), Realty (up 0.7 per cent) and Consumer Durables (up 0.7 per cent) indices were other notable gainers.

Reliance Industries gained the most among Sensex-30 constituents by climbing 1.62% to Rs 1,391.55.

The benchmark indices on Friday pared some losses after opening higher tracking positive trend seen in Asian markets after Wall Street rallied with Nasdaq hitting record high on strong United States corporate earnings.

Sentiments also got a boost after the Bank of Japan said it will keep accommodative policy in place.

In other Asian markets, Japan's Nikkei was up 0.86% while Hong Kong's Hang Seng rose 0.31% in early trade today.

On a weekly basis, the BSE Sensex lost 96.15 points, or 0.32 per cent, and the Nifty 31.40 points, or 0.34 per cent, sliding for the second straight week. The US Dow Jones Industrial Average ended 0.85 per cent higher yesterday.

The rupee edged higher by 2 paise against the American unit to close at 64.56 in yesterday's trade on emergence of mild selling of the American greenback by banks and exporters.