Sensex up 118 points in late morning, Nifty above 10,450-level

Mumbai: The benchmark Sensex was trading higher by 118.78 points in late morning deals on buying in key frontline stocks led by telecom, oil&gas, banks, financials and FMCG amid higher Asian cues.

Sentiments were upbeat on firm Asian cues after record close in US markets.

The 30-share BSE index was trading higher by 118.78 points or 0.35 per cent at 33,931.04 at 1100 hours.

The 50-share Nifty was also trading up by 44.90 points or 0.43 per cent at 10,487.10.

Major gainers were ICICI Bank 1.97 per cent, Adani Ports 1.35 per cent, BhartiAirtel 1.23 per cent, Reliance 1.11 per cent and SBIN 0.94 per cent.

TCS, Coal India Mahindra & Mahindra, Yes Bank, L&T, Hindustan Unilever, ITC and Tata Steel also gained up to 1 per cent in morning session.

However, Dr Reddy’s fell the most by 2.5 per cent, Tata Motors by 0.98 per cent and ONGC by 0.96 per cent.

Foreign portfolio investors (FPIs) net bought shares worth Rs 522.74 crore yesterday and domestic institutional investors (DIIs) also bought equities to the tune of Rs 64.70 crore.

Most Asian markets were trading higher, tracking positive cues from US market.

US stocks jumped overnight, with major indexes rallying to record levels in a broad rally.

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