Sensex climbs 122 pts in early trade

TIL Desk/Business/Mumbai/ Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP’s B S Yeddyurappa was sworn in as the chief minister of Karnataka. Unabated buying by domestic institutional investors set the tone, brokers said.

BJP legislature party leader B S Yeddyurappa was today sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court.

The 30-share Sensex bounced 122.13 points, or 0.34 per cent, to 35,510.01. It had lost 168.83 points in the previous two sessions. All the sectoral indices, led by consumer durables, realty, metal, power and banking, were in the green.

The NSE Nifty also jumped 36.15 points, or 0.33 per cent, to 10,777.25.Major movers in the Sensex kitty included Coal India, Power Grid, Wipro, SBI, Kotak Bank, Sun Pharma, ICICI Bank, TCS, Infosys, M&M, L&T and Maruti Suzuki, rising up to 1.79 per cent.

Tata Steel, however, fell 0.83 per cent despite the company yesterday reporting a consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March, 2018.