Indias trade deficit declined to a five-month low in September even as exports contracted, providing some respite from the rising gap that had sparked concern about the current account deficit (CAD). The gap between exports and imports, or trade deficit, declined to $13.98 billion in September from $17.39 billion in August following slower growth in imports, ET reported.
RBI's decision to conduct open market purchase operations (OMOs) worth Rs 12,000 crore also influenced the sentient. The Reserve Bank of India will conduct OMOs worth Rs 12,000 crore on Wednesday, a move that will inject cash in the banking system.
At 9:30 am, the NSE Nifty index was trading 57 points up at 10,569, while the BSE Sensex was up 214 points at 35,080.
The 50-share Nifty pack had 39 stocks advancing and 11 declining. In the Sensex index, three stocks – Wipro, Tata Consultancy Services and PowerGrid – were in the red while rest all were trading with gains.
IndusInd Bank was leading among the Sensex gainers, rising nearly 3 per cent. IndusInd Bank on Monday posted 4.56 per cent year-on-year rise in profit at Rs 920.25 crore for quarter ended September 30. It had posted a profit of Rs 880.10 crore in the corresponding quarter last year.
Asian Paints, Adani Ports, Mahindra & Mahindra, Hindustan Unilever and ICICI Bank were among other gainers in the Sensex index.
BSE Midcap and Smallcap index jumped 1 per cent each, outperforming the benchmark Sensex.
All sectoral indices on BSE were trading in the positive territory, with auto, finance, consumer durables and realty gaining over 1 per cent.
Shares of GTPL Hathway, Authum Investment & Infrastructure, Spenta International and Poona Dal & Oil Industries surged up to 20 per cnet on BSE.