Sensex jumps 283 points, reclaims 27,000 mark
Mumbai: The benchmark BSE Sensex today regained the 27,000-mark by surging 283 points on continued value-buying in blue-chips after dovish statement from US Fed allowed Indian stocks some more freedom to push higher.
The BSE barometer has gone up by 745 points in the last five sessions and now stands at over two-week high levels.
Strengthening of rupee by 42 paise against the American currency (intra-day) too supported the ally.
Fed Chief Yellen after two-day Federal Open Market Committee yesterday said: “…although policy will be data dependent, economic conditions are currently anticipated to evolve in a manner that will warrant only gradual increases in the target federal funds rate.”
The 30-share BSE gauge opened on a strong footing and picked up momentum on sustained across-the-board buying to reclaim the 27,000-mark and touched high of 27,175.39.
The index finally settled 283.17 points higher or 1.06 per cent at 27,115.83.
The 50-share NSE Nifty index recaptured the 8,100-mark by rising 83.05 points or 1.03 per cent to close at 8,174.60.
Out of 30 Sensex stocks, 20 closed with gains.
Among Sensex gainers, RIL topped the list by climbing over 5 per cent on continued optimism about the company’s plans to start 4G phone services later this year.
Maruti Suzuki, Dr Reddy’s, Tata Motors, Sun Pharma, ONGC, Hindalco, HDFC Bank, SBI and HDFC were among other gainers.
Shares of housing finance companies such as GIC Housing Finance and Dewan Housing Finance Corp and Indiabulls Housing Finance remained centre of brisk activity, surging up to 4.28 per cent, after the government gave its approval to the launch of ‘Housing for All by 2022′ scheme.
Sectorwise, oil & gas index rose the most by gaining 2.63 per cent, followed by consumer durables 2.12 per cent, healthcare (1.34 pc), auto (1.17 pc), capital goods (0.87 pc), bankex (0.84 pc), power (0.56 pc) and IT (0.54 pc).
Globally, other Asian markets ended lower and European markets were negative in their opening trade.
Foreign investor’s continued to be sellers as they sold shares worth Rs 940.91 crore yesterday.