Bourses rally for 3rd straight day, Sensex surges 1,000 pts
Mumbai: Rallying for the third consecutive session, equity benchmark indices Sensex and Nifty surged over 1 per cent on Thursday, powered by intense buying in market heavyweights HDFC Bank, Reliance Industries and ICICI Bank as geopolitical tension in the Middle East eased off.
Stable crude oil prices in international markets and a strengthening trend in the rupee following a weak US dollar against major currencies also bolstered sentiment, traders said.
The 30-share BSE Sensex jumped 1,000.36 points or 1.21 per cent to settle at 83,755.87. During the day, it surged 1,056.58 points or 1.27 per cent to 83,812.09.
The market capitalisation of BSE-listed firms jumped by Rs 9,70,200.71 crore to Rs 4,57,52,700.57 crore ($5.34 trillion) in three days.
As many as 2,097 stocks advanced while 1,900 declined and 156 remained unchanged on the BSE.
The 50-share NSE Nifty rallied 304.25 points or 1.21 per cent to 25,549.
From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, HDFC Bank, Reliance Industries and Axis Bank were among the major gainers.
Shares of Reliance Industries climbed nearly 2 per cent on Thursday, with its market valuation again breaching the coveted Rs 20 lakh crore mark.
In contrast, Trent, State Bank of India, Tech Mahindra, Maruti and Mahindra & Mahindra were among the laggards.
The BSE midcap gauge climbed 0.56 per cent, and smallcap index went up by 0.12 per cent.
Among BSE sectoral indices, metal jumped 2.28 per cent, oil & gas (1.88 per cent), energy (1.68 per cent), commodities (1.39 per cent), financial services (1.25 per cent), utilities (1.24 per cent) and power (1.13 per cent). On the other hand, IT, realty and BSE-focused IT were the laggards.
Global oil benchmark Brent crude climbed 0.18 per cent to $67.80 a barrel.
FIIs offloaded equities worth Rs 2,427.74 crore on Wednesday, while Domestic Institutional Investors (DII) bought stocks worth Rs 2,372.96 crore, according to exchange data.
On Wednesday, the Sensex jumped 700.40 points, or 0.85 per cent, to settle at 82,755.51. The Nifty climbed 200.40 points, or 0.80 per cent, to 25,244.75.
