Closing bell: Sensex skyrockets 464 points, Nifty below 10,900 mark
On account of heavy buying in IT, metal, tech and energy stocks the BSE Sensex climbed 464 points to 36,318 while the 50-strip Nifty jumped by 149 points to 10,886.
By Zee Business digital Team
On account of heavy buying in IT, metal, tech and energy stocks the BSE Sensex climbed 464 points to 36,318 while the 50-strip Nifty jumped by 149 points to 10,886. Experts are of the opinion that the such rise in the Indian indices is because of the strong global cues and weakening dollar into the Forex market. Infibeam Avenues, Gujarat Gas, Godfrey Philips and J&K Bank stocks were the top gainers of the intraday trade while Dish TV India, Navkar Corp, Quess Corp and Aditya Birla Fashion stocks were among the top losing shares.
Extending its rally from previous trading sessions IT major Infosys gained by near 3.66 per cent, Aptech gained by more than 6 per cent, Firstsource Solutions shot up by around 7.5 per cent while 8K miles Software Services went up by near 5 per cent. Tech stocks Bharti Airtel and Cyient jumped by near 2 per cent. Among energy shares Castrol India led from the front by logging around 5.75 per cent, Gujarat Gas shot up by 7.55 per cent and HPCL went up by more than 3 per cent.
Anindya Banerjee, Analyst at the Kotak Securities told Zee Business online, "Indian market is trading into the range of 10,700 to 10,950 levels. The Bulls can have their run up to 11,000 mark if it sustains above 10,950 mark. However, such a scenario looks glim as there are concern of rising fiscal deficit making the Indian rupee weaker."
Asian stock indices too had a bull run today after weak opening in the morning session. Kospi closed 1.58 per cent higher from its previous close, Hang Seng too closed more than 2 pre cent higher from Monday closer, Nikkei logged 0.96 per cent gains from its yesterday close while Shanghai index went up by 1.36 per cent.
Asian bourses opening weaker in the morning session was due to the concerns related to slump in Chinese export numbers and euro zone crisis due to Brexit. On account of these reasons Dow had closed 0.36 per cent lower while Nasdaq went northward by around 0.94 per cent on Monday.