Market rally continues, Sensex rises 83 points
Bringing up the fifth day of gains,
benchmark Sensex rose over 83 points today to finish at an
over two-week high of 33,561.55, fuelled by infrastructure,
PSU and auto stocks.
However, the gains were capped by battered metal and
Sentiment was bolstered by positive global cues, with
Hong Kong stocks breaking the 30,000-barrier for the first
time in 10 years as Asian markets extended a global rally
following another record close on the Wall Street on strong
world growth and rising corporate earnings.
The Sensex opened higher at 33,569.07 and continued its
upward march to hit a high of 33,654.53 on unabated buying by
participants, particularly domestic investors.
However, profit-booking emerged at higher levels and
dragged the index to a low of 33,465.23, before it bounced
back to settle at 33,561.55, up 83.20 points, or 0.25 per
This is the benchmark's highest closing since November 6,
when it settled at 33,731.19.
The gauge had gained 717.91 points in the previous four
sessions as investor risk appetite soared after US-based
Moody's last week upgraded India's sovereign credit rating by
a notch to 'Baa2'.
The broader Nifty scaled a high of 10,368.70 but finished
at 10,342.30, still up 15.40 points, or 0.15 per cent.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.