The Sensex rally lifted the domestic sentiment making investors richer by Rs 1.57 crore in the intraday trade Thursday.
The Sensex rally lifted the domestic sentiment making investors richer by Rs 1.57 crore in the intraday trade Thursday. The 400-point rally in the BSE Sensex gauge pushed the market capitalisation of the BSE-listed firms higher by Rs 1,57,091.31 crore to Rs 1,48,45,854.70 crore.After rallying 565 points during the day, the 30-share Sensex ended 396.22 points, or 1.03 per cent, higher at 38,989.74. The broader NSE Nifty soared 133.10 points, or 1.22 per cent, to end at 11,573.30. “We reiterate our bullish view on the Nifty and advice continuing with “buy on dips” approach. It has the potential to test 11,700-11,800 in the near future thus any intermediate dip should be considered as a buying opportunity. We’re still seeing limited participation thus suggest keeping caution during stock selection,” Ajit Mishra Vice President, Research, Religare Broking.
The top gainers in the Sensex pack included Vedanta, M&M, ICICI Bank, Tata Steel, ONGC, Maruti, IndusInd Bank, L&T, Hero MotoCorp, Bajaj Finance and Kotak Bank. Yes Bank, Infosys, HUL, HCL Tech, HDFC, NTPC, PowerGrid and TCS declined. The stock market saw a rise today after a fall yesterday as September futures and options expired, experts said. The investors were also optimistic ahead of the Reserve Bank’s policy review meet next week, they added.
The Nifty managed to close higher on the day of weekly expiry after a long time, Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities said. “On daily basis, Nifty closed above 11540, which would bring positive sentiment in the short term. While we could see 11700/11720 levels, its sustenance above this level would result in a rally towards 11800,” he noted. Meanwhile, the domestic currency rupee closed 8 paise higher at 70.95 against US dollar.