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Value-buying lifts Sensex by 233 points, IT & FMCG stocks shine

Value-buying lifts Sensex by 233 points, IT & FMCG stocks shine
Snapping a two-day fall, the S&P BSE Sensex on Thursday rose by 233 points to end at 19,410.84 on value-buying in bluechips including ITC, TCS, Infosys and RIL, amid firm global cues ahead of ECB's interest rate meeting.

Shares from IT, FMCG, Teck, Realty, Consumer Durable and Refinery segments attracted good buying support and were at the forefront of the comeback. In all, 11 out of 13 sectoral indices closed up with gains of up to 2.73 per cent.Investors became richer by Rs 52,000 crore as nearly 1,250 stocks notched up gains on BSE on Thursday.

The Bombay Stock Exchange 30-share barometer resumed higher and remained in positive terrain throughout the day to settle at 19,410.84, a rise of 233.08 points or 1.22 per cent.

In past 2 days, Sensex had plunged by almost 400 points due to capital outflows and a weak rupee. The local currency was last trading at 60.16 against Wednesday's close of 60.21. The broader 50-issue CNX Nifty of the NSE also recovered by 66.05 points, or 1.14 per cent, to end at 5,836.95. Also, SX40 index, the flagship index of MCX-SX, closed 152.2 points, or 1.33 per cent, higher at 11,565.58.

The most influential ITC was in limelight and shot up by 3.74 per cent, contributing heavily to Sensex's rise. IT stocks like Infosys, TCS and Wipro rose by 2-3 per cent as a weak rupee and signs of improving US economy triggered buying.

Other Sensex-based counters like RIL, Tata Motors, HUL, Bharti Airtel and HDFC also were back in demand.Second-line scrips underperformed Sensex following lack of interest by retail investors with BSE-Midcap and Smallcap indices ending 0.5 per cent and 0.2 per cent up, respectively.
Asian stocks closed mixed with upward bias after better- than-expected US economic data spurred gains on Wall Street on Wednesday. Europe was quoting strong in their early trade ahead of policy decisions from the European Central Bank (ECB) and Bank of England (BoE). However, strengthening yen dragged down Japanese scrips.

Key benchmark indices in China, Hong Kong, Singapore and South Korea closed higher in 0.59-1.60 per cent range. In Europe, France’s CAC was trading up by 0.84 per cent, Germany’s DAX by 0.65 per cent and the UK’s FTSE by 0.96 per cent.
Agencies

Agencies

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