The BSE benchmark Sensex on Wednesday jumped by 162 points, its best daily gain in a month, on good buying in capital goods, banking, power and oil & gas shares amid government announcing sops for exporters and hopes of more steps from RBI to ease the liquidity situation.
Brokers said investors increased positions ahead of the expiry of the December derivatives contracts Thursday, while foreign capital inflows continued to rush in.
After resuming higher at 19,302.47, the Bombay Stock Exchange (BSE) 30-share index jumped to 19,468.40 as buying picked up in ICICI Bank, Bharti Airtel and Jindal Steel. Among sops for exporters declared Wednesday, the Indian government announced extension of 2 per cent interest subsidy till March 2014 and a pilot scheme of 2 per cent interest subsidy for project exports through Exim Bank.
Helped by these positive sentiments, the Sensex closed at 19,417.46, a rise of 162.37 points or 0.84 per cent. This is its best single-day gain since 169 point-rise on November 30. ‘Short covering was also witnessed ahead of Futures and Options (F&O) expiry day tomorrow, said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.’ Similarly, the NSE 50-share Nifty firmed up by 49.85 points or 85 per cent to 5,905.60.
Brokers said investors increased positions ahead of the expiry of the December derivatives contracts Thursday, while foreign capital inflows continued to rush in.
After resuming higher at 19,302.47, the Bombay Stock Exchange (BSE) 30-share index jumped to 19,468.40 as buying picked up in ICICI Bank, Bharti Airtel and Jindal Steel. Among sops for exporters declared Wednesday, the Indian government announced extension of 2 per cent interest subsidy till March 2014 and a pilot scheme of 2 per cent interest subsidy for project exports through Exim Bank.
Helped by these positive sentiments, the Sensex closed at 19,417.46, a rise of 162.37 points or 0.84 per cent. This is its best single-day gain since 169 point-rise on November 30. ‘Short covering was also witnessed ahead of Futures and Options (F&O) expiry day tomorrow, said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.’ Similarly, the NSE 50-share Nifty firmed up by 49.85 points or 85 per cent to 5,905.60.