Mumbai, Feb 17 (PTI) For the second day, the Sensex broke

free today, shooting up nearly 425 points, and the Nifty

wrested back control of the 8,800-mark in early session on

substantial gains across the spectrum, driven by increased

foreign capital inflows.

The 30-share barometer zoomed 424.99 points, or 1.50

per cent, to 28,726.26. The gauge had gained 145.71 points in

the previous session.

Also, the NSE Nifty recaptured the key 8800-level by

surging 91.60 points, or 1.04 per cent, to 8,869.60.

HDFC Bank skyrocketed 7.29 per cent to Rs 1,424.05 after

RBI yesterday lifted restrictions on foreign investors for

purchase of shares in the company.

FIIs, NRIs and PIOs (persons of Indian origin) can invest

in primary and secondary capital markets in India through

portfolio investment scheme (PIS).

RBI monitors the ceilings on FII, NRI, PIO investments

in Indian companies on a daily basis and has fixed the cut-off

2 percentage points below the actual ceiling.

Other big-time movers that supported the rally were

HDFC Ltd, Axis Bank, Lupin, PowerGrid, Adani Ports, Tata

Motors, ONGC, Cipla, GAIL, Bharti Airtel and L&T, advancing by

up to 1.64 per cent.

Brokers said sustained buying by investors, along with

foreign capital inflows amid sizeable purchases by domestic

institutional investors, bolstered sentiment.

However, they said, a weak trend at other Asian markets

tempered the momentum here.

In the rest of Asia, Japan’s Nikkei fell 0.57 per cent

while Hong Kong’s Hang Seng slumped 0.46 per cent in early

trade today. Shanghai Composite was trading 0.24 per cent


The US Dow Jones Industrial Average, however, ended 0.04

per cent higher yesterday.

This is published unedited from the PTI feed.