Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

BSE Sensex continues to rule firm for 2nd day, rallies over 354 points as banks soar

Nov 18 2013, 13:40 IST
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Bank stocks gain with bond yields on watch ahead of the Reserve Bank of India's 80 billion rupees bond purchases later in the day. (Reuters) Bank stocks gain with bond yields on watch ahead of the Reserve Bank of India's 80 billion rupees bond purchases later in the day. (Reuters)
SummaryEarlier, BSE Sensex rose by 301.61 pts with all sectoral indices, gaining up to 2.60%.

The BSE Sensex firmed up further for the second consecutive day by gaining 354.35 points in the pre-noon trade on persistent buying in view of firm Asian cues coupled with sustained capital inflows from foreign funds. Shares of banks, capital goods cos, IT, tech, realty and FMCG sectors moved up on good buying enquiries.

The BSE Sensex resumed higher at 20,570.59 and shot up further to 20753.77 at 1317 hrs, showing a gain of 354.34 points or 1.74 per cent from its last close.

The NSE Nifty rose by 94.55 points or 1.56 per cent to 6150.70 at 1308 hrs.

Also check: Markets Top Gainers, Markets Top Losers

Major gainers were Larsen & Toubro (2.71 per cent), ICICI Bank (2.71 per cent), HDFC Bank (2.55 per cent), Wipro (2.54 per cent), ITC Ltd (1.92 per cent) and Reliance Power (1.90 per cent).

Foreign institutional investors (FIIs) bought shares worth a net Rs 970.03 crore on last Thursday as per provisional data from the stock exchanges.

Asian markets were trading higher in their early trade following firm cues from Wall Street. Key benchmark indices in Taiwan, Hong Kong, China, Singapore, Japan and South Korea rose by 0.19 per cent to 2.14 per cent.

US stocks stepped higher on last Friday, lifting the S&P 500 and Dow to record closes, as investors continued to find encouragement in Janet Yellen's support for the Federal Reserve's stimulus efforts.

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