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

healthcare counters.

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

cent.

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.)