Mumbai,
Feb 8: The benchmark index of Bombay Stock Exchange (BSE) recovered on
Thursday by 330.45 points to end positive at 34,413.16, snapping the losing streak
of last seven days, due to
fresh buying in select stocks such as Health
Care, Telecom, IT and Technology.
The Nifty of National Stock Exchange (NSE) too rose by 100.15 points to 10,576.85.
Stocks advanced as bargain hunting emerged after seven straight sessions of sell-off in the domestic equities in the wake of a combination of domestic and global factors.
Lesser hawkish stance of the Reserve Bank of India (RBI) in its monetary policy meeting on Wednesday also supported the gains on the bourses. The central bank had kept key policy rates on hold, reiterating its intention to keep an eye on the inflation figures going forward and to support growth.
The Sensex remained in green zone throughout the day, after opening higher by 126 points to 34,208.11. During the day it surged by 552 points to touch the day's high of 34,634.35, before closing at 34,413.16, increasing by 330.45 points as compared to its last close.
Meanwhile, it registered the day's low at 34,108.76.
The Sensex rebounded on the strength of Materials, Health Care, Realty, IT and Technology stocks.
Pharma stocks advanced.
Cement major ACC surged after reporting strong Q4 results. Bhel advanced after strong Q3 earnings.
Scrips of Sun Pharma, Dr Reddy's Lab, SBIN and Infosys pushed the market up, brokers informed.
Earlier, the key indices had declined for seven sessions in a row after the government re-introduced the long-term capital gains (LTCG) tax on equities exceeding Rs 1 lakh at 10 per cent in Budget 2018, surging interest rates on sovereign debt in US and amid rising global crude oil and commodity prices.
The S&P BSE Mid-Cap index rose 1.82 per cent. The Small-Cap index advanced by 2.25 pc. Both these indices outperformed the Sensex.
The market breadth was quite strong with more than three gainers for every loser on BSE, as 2,173 shares advanced against 639 declined and 118 were unchanged.
The total turnover on BSE amounted to Rs 5,547.07 crore, compared with the turnover of Rs 4,395.53 crore registered during the previous trading session.
Among the sectoral indices, Health Care was the major gainer up by 2.91 pc, followed by Realty by 2.51 pc, Materials by 2.48 pc, Technology by 1.41 pc and IT by 1.40 pc.
Oil & Gas was the sole loser down by 0.25 pc.
Pharma stocks advanced. Cipla surged by 8.06 pc, Sun Pharmaceutical Industries by 6.32 pc, Dr Reddy's Laboratories by 3.18 pc, Divi's Laboratories by 1.95 pc and Glenmark Pharmaceuticals by 1.45 pc.
Aurobindo Pharma dropped 2.39 pc after the company announced on Thursday that its consolidated net profit rose 2.8 pc to Rs 595.01 crore on 11 pc growth in net sales to Rs 4,268.99 crore in Q3 December 2017 over Q3 December 2016. UNI
The Nifty of National Stock Exchange (NSE) too rose by 100.15 points to 10,576.85.
Stocks advanced as bargain hunting emerged after seven straight sessions of sell-off in the domestic equities in the wake of a combination of domestic and global factors.
Lesser hawkish stance of the Reserve Bank of India (RBI) in its monetary policy meeting on Wednesday also supported the gains on the bourses. The central bank had kept key policy rates on hold, reiterating its intention to keep an eye on the inflation figures going forward and to support growth.
The Sensex remained in green zone throughout the day, after opening higher by 126 points to 34,208.11. During the day it surged by 552 points to touch the day's high of 34,634.35, before closing at 34,413.16, increasing by 330.45 points as compared to its last close.
Meanwhile, it registered the day's low at 34,108.76.
The Sensex rebounded on the strength of Materials, Health Care, Realty, IT and Technology stocks.
Pharma stocks advanced.
Cement major ACC surged after reporting strong Q4 results. Bhel advanced after strong Q3 earnings.
Scrips of Sun Pharma, Dr Reddy's Lab, SBIN and Infosys pushed the market up, brokers informed.
Earlier, the key indices had declined for seven sessions in a row after the government re-introduced the long-term capital gains (LTCG) tax on equities exceeding Rs 1 lakh at 10 per cent in Budget 2018, surging interest rates on sovereign debt in US and amid rising global crude oil and commodity prices.
The S&P BSE Mid-Cap index rose 1.82 per cent. The Small-Cap index advanced by 2.25 pc. Both these indices outperformed the Sensex.
The market breadth was quite strong with more than three gainers for every loser on BSE, as 2,173 shares advanced against 639 declined and 118 were unchanged.
The total turnover on BSE amounted to Rs 5,547.07 crore, compared with the turnover of Rs 4,395.53 crore registered during the previous trading session.
Among the sectoral indices, Health Care was the major gainer up by 2.91 pc, followed by Realty by 2.51 pc, Materials by 2.48 pc, Technology by 1.41 pc and IT by 1.40 pc.
Oil & Gas was the sole loser down by 0.25 pc.
Pharma stocks advanced. Cipla surged by 8.06 pc, Sun Pharmaceutical Industries by 6.32 pc, Dr Reddy's Laboratories by 3.18 pc, Divi's Laboratories by 1.95 pc and Glenmark Pharmaceuticals by 1.45 pc.
Aurobindo Pharma dropped 2.39 pc after the company announced on Thursday that its consolidated net profit rose 2.8 pc to Rs 595.01 crore on 11 pc growth in net sales to Rs 4,268.99 crore in Q3 December 2017 over Q3 December 2016. UNI
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