Sensex surges 506 factors to new closing excessive

Mumbai, December 1

Equity benchmark Sensex rallied 506 points to close at a fresh lifetime high on Tuesday, backed by gains in IT and finance stocks amid persistent foreign capital inflows.

A strengthening rupee and positive leads from other Asian markets too influenced market sentiment, said traders.

The 30-share BSE index ended 505.72 points or 1.15 per cent higher at 44,655.44.

Similarly, the broader NSE Nifty surged 140.10 points or 1.08 per cent to close at 13,109.05.

Sun Pharma was the top gainer in the Sensex pack, rising over 5 per cent, followed by IndusInd Bank, Tech Mahindra, ONGC, Bharti Airtel, Infosys, ICICI Bank and Bajaj Auto.

On the other hand, Kotak Bank, Nestle India, Titan, Bajaj Finance, HDFC Bank and NTPC were among the laggards.

Sector-wise, BSE realty, telecom and tech indices rose up to 3.49 per cent.

Foreign institutional investors remained net buyers in the capital markets as they purchased shares worth Rs 7,712.98 crore on Friday, according to provisional exchange data.

The rupee strengthened 37 paise to close at 73.68 against the US dollar.

Elsewhere in Asia, bourses in Shanghai, Tokyo, Hong Kong and Seoul ended with significant gains.

Stock exchanges in Europe were trading mixed in early deals.

India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent, official data showed on Friday.

Meanwhile, Brent crude futures, the global oil benchmark, was trading 0.10 per cent lower at USD 47.83 per barrel. PTI

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