Sensex surges 91.71 points to close at 33,880.25; Nifty above 10,400 mark

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Mumbai:

The Sensex on Tuesday kept its winning run going for the fourth straight day by adding another 92 points, tracking gains on other Asian bourses as China revealed its future economic agenda including further opening up of the economy and lowering import tariffs on certain goods.

The signs of easing global trade war concerns made investors more confident about taking positions.

Chinese President Xi Jinping on Tuesday pledged to lower auto import tariffs, protect the intellectual property of foreign companies and further open the world's second-largest economy.

The broader NSE Nifty also ended above the key 10,400-mark.

Furthermore, widening of bets by investors amid optimism ahead of earnings season, to begin later this week, also supported the uptrend, brokers said.

The Sensex opened higher and went further to hit a high of 33,949.98 and finally settled 91.71 points, or 0.27 per cent, higher at 33,880.25.

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The gauge had risen 774.47 points in the previous three sessions.

The 50-share NSE Nifty settled higher 22.90 points, or 0.22 per cent, at 10,402.25 after shuttling between 10,424.85 and 10,381.50.

Persistent capital inflows by domestic institutional investors and retail investors kept the market in fine nick, analysts said.

Domestic institutional investors picked shares worth a net Rs 359.35 crore while foreign portfolio investors sold shares worth a net Rs 1,300.93 crore yesterday, as per provisional data.

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