MUMBAI: The Bombay Stock Exchange sensitive index, Sensex, crossed the psychological barrier of 19000-mark to close at a 32-month high on Monday as market participants cheered July industrial output and a strong world market aiding positive sentiment.
The 30-share BSE index rose for the fifth straight session and surged by 408.67 points or 2.17 per cent to 19208.33. It touched an intra-day high of 19243.44, the highest since January 2008. A broader 50-share NSE Nifty gained 2.1 per cent to 5760.
The Index of Industrial Production (IIP) data for July almost doubled to 13.8 per cent as compared to the previous year's (July) growth of 7.2 per cent. Manufacturing sector output grew by 15 per cent in July this year against 7.4 per cent a year ago.
The markets remained closed on Friday last and when it opened on Monday, investors welcomed the figures by crowding for economy and banking stocks. Lenders State Bank of India and HDFC Bank hit an all-time high.
The BSE banking index rose by 470.37 points or 3.62 per cent to 13454 and oil moved up by 261.36 points or 2.57 per cent to 10436.47. Realty stocks gained by 2.46 per cent while metal gained 1.59 per cent.
All other sectoral indices gained in accordance with the rally in the market.
The broader indices too gained smartly. BSE mid-cap gained 61.64 points at 8112.37, small-cap 22.69 points at 10271.04 and BSE 500 gained 128.68 points at 7767.55. In overseas markets, Japan's Nikkei closed at 9321.82 with a gain of 82.65 points, Hong Kong's Hang Seng gained by 400.96 points to 21658.35 and the U.K.'s FTSE-100 was up by 58.60 points at 5560.24.
PTI reports:
Analysts said that markets would scale new heights in the coming days on sustained inflows of overseas funds.
“The Indian equities would continue to be sweet spot and continue to gradually move upwards,” Angel Broking CMD Dinesh Thakkar said.
State Bank of India stole the show and was the top gainer in the Sensex pack. The scrip ended 5.5 per cent higher at Rs.3,147.25.
No comments:
Post a Comment