Sensex 37 thousand after four and a half months
Mumbai: The BSE Sensex closed above the 37,000 mark and the National Stock Exchange’s Nifty crossed the 10,900 mark after nearly four and a half months of buying for the third day in a row in domestic stock markets.
Investors’ confidence in the positive signs from abroad and a boom in economic activity at the domestic level has strengthened. On the basis of all-round buying, the Sensex jumped 548.46 points, or 1.50 percent, to 37,020.14 points and the Nifty gained 161.75 points, or 1.51 percent to close at 10,901.70. This is the highest level since March 06 of both indices.
The market was strong from the beginning and the graph ran upwards in the last one hour. Investors in other sectors, except IT and tech sectors, remained alive. ONGC’s share in the Sensex companies rose five and a half percent. Titan and Reliance Industries were up over three and a half percent. Shares of HDFC Bank, Mahindra & Mahindra and Bajaj Finance also rose more than three percent. TCS lost about one and a half percent.
Investors also invested a lot of money in medium and small companies. The BSE midcap gained 1.55 percent to 13,530.75 points, the smallcap was up 1.11 percent at 12,782.53 points.
Most of the major Asian markets abroad remained in green mark. South Korea’s Kospi closed up 0.80 percent, Hong Kong’s Hangseng 0.47 percent and China’s Shanghai Composite 0.13 percent higher, while Japan’s Nikki slipped 0.32 percent. The UK’s FTSE gained 0.42 percent in early trade in Europe and the German Dax strengthened 0.31 percent.