Sensex up 194 pts to over 1-week high

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Agencies: Mumbai, Nov 02 2012, 17:25 IST

Extending gains for third day, the BSE benchmark Sensex today closed nearly 194 points higher at over one-week high of 18,755.45 on heavy buying, especially in capital goods, auto and bank shares, amid buoyant global stock markets on upbeat overnight US economic data.

The Sensex, which had gained over 130 points in last two trading sessions, rose further by 193.75 points, or 1.04 per cent to close at 18,755.45 -- its highest since October 25 when it ended at 18,758.63.

Around 26 stocks in the 30-share index closed with gains led by Gail, Bajaj Auto, L&T and ICICI Bank. FMCG major ITC, also the most influential among Sensex constituents, rose 1.58 per cent helping the market cement today's gains.

Likewise, the 50-share NSE index Nifty rose by 52.65 points, or 0.93 per cent, to close at 5,697.70.

"...positive US economic data released recently boosted the buying. Indian market breadth was positive and volumes were also higher. European and Asian indices also traded higher and underpinned the positive sentiment," said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio.

Yesterday, October data on US consumer confidence showed a rise to 72.2 and the Institute for Supply Management's survey of US manufacturing showed a bigger-than-forecast climb.

This helped Asian shares end higher today after the overnight data suggested stabilisation in global recovery. Key benchmark indices in China, Hong Kong, Japan, South Korea, Taiwan and Singapore rose between 0.43-1.33 per cent.

Brokers also said domestic trading sentiment was bolstered after Wipro reported 23.8 per cent growth

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