BSE Sensex logs 2013's biggest rise, ends at one-month high, Nifty up 82 pts
Brokers said the upsurge in the market was mostly attributed to expectations of an interest rate cut by the Reserve Bank of India in its policy review this month.
Investors are now looking forward to industrial output data due next week, traders said.
Dipen Shah, Head of PCG (Private Client Group) Research, Kotak Securities said expectations of further reforms from the government has improved the sentiment.
Across-the-board buying on strong global cues and indications of more sops by Finance Minister had lifted Sensex on March 5 by over 265 points.
Today, across the BSE, over 1,730 stocks ended with gains while 1,135 scrips settled lower. Investor wealth soared by nearly Rs 75,000 crore to Rs 67.40 lakh crore.
"It was another day of good run for the markets as the Nifty closed the day decisively above the 5900 mark," said Shubham Agarwal, Associate VP & Senior Technical Equities Analyst, Motilal Oswal Securities.
Rate-sensitive sectors like banking, auto and realty also recovered from lower levels. "We expect repo rate cut of 0.25 per cent in forthcoming monetary policy review," said Amar Ambani, Head of Research, IIFL.
Meanwhile, Asian stocks closed mixed with upward bias as Japan's economy returned to growth and jobless claims in the US dropped, adding to signs that global economy is recovering.
Key benchmark indices in Hong Kong, Japan, South Korea and Taiwan rose while from China and Singapore declined.
European markets, however, trading higher in early deals.
The CAC was up by 0.75 per
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