Mumbai, Dec 7 (PTI) Market benchmark Sensex today shaped
up by rebounding over 352 points as investors hunted for
bargains in recently-battered bank, auto and metal stocks.
The broader Nifty too ended above the key 10,100-mark.
Participants sensed value-buying opportunities after
equities’ recent lacklustre run, making stock valuations
attractive, brokers said.
The 30-share Sensex stayed in the green throughout and
hit the day’s high of 32,992.45 following all-round buying. It
finally ended at 32,949.21, up 352.03 points, or 1.08 per cent
— its biggest single-day gain since November 1, when it had
surged 387.14 points.
This is also the benchmark’s highest closing since
November 30, when it had finished at 33,149.35.
The index had lost 205 points yesterday after the Reserve
Bank held the policy rate and raised the inflation forecast
for the remainder of the fiscal.
The broader NSE Nifty soared 122.60 points, or 1.22 per
cent, today to close at 10,166.70 after shuttling between
10,182.65 and 10,061.90.
This is its biggest single-day jump since May 25, when it
had gained 149.20.
“RBI s neutral stance despite firm inflation
expectations, and recent falls rendering stocks attractive,
whetted the appetite of buyers,” said Anand James, Chief
Market Strategist, Geojit Financial Services.
All the BSE sectoral indices closed in the green, led by
telecom, consumer durables, power, capital goods, auto,
oil&gas and realty.
Stocks of state-run oil marketing companies such as HPCL,
BPCL and IOC recorded gains of up to 1.83 per cent after
global crude prices dropped by nearly 3 per cent to trade
below USD 63 a barrel.
Domestic institutional investors bought shares worth Rs
995.11 crore, while foreign funds sold shares to the tune of
Rs 1,217.92 crore yesterday, provisional exchange data showed.
Bharti Airtel secured podium finish among the Sensex
constituents, ratcheting up 6.08 per cent.
Other gainers were Asian Paints, Maruti Suzuki, Tata
Steel, Bajaj Auto, NTPC, L&T, ICICI Bank, HUL, SBI, Tata
Motors, Lupin, Adani Ports, Hero Motocorp, Power Grid and
Infosys, rising by up to 3.29 per cent.
However, Sun Pharma, Wipro, Cipla, TCS and Coal India
finished with losses.
Major Asian indices closed higher. Japan’s Nikkei
advanced 1.45 per cent, Hong Kong’s Hang Seng rose 0.29 per
cent, while Shanghai Composite Index shed 0.67 per cent.
In the eurozone, key indices such as Paris CAC 40 and
Frankfurt’s DAX were up by 0.32 per cent and 0.55 per cent in
their early deals. London’s FTSE too was up 0.24 per cent. PTI
This is published unedited from the PTI feed.