Sensex climbs 322 pts as geo-political tensions recede
The BSE Sensex jumped about 322
points today to close at a one-week high of 31,770.89, while
the NSE Nifty topped the 9,900-mark on unabated buying by
domestic investors amid firm global cues on receding tensions
between the US and North Korea.
Sentiment remained upbeat for the better part of the day
on account of positive leads from European markets before the
release of the latest Federal Reserve minutes and British
Stocks of consumer goods companies were back in the
limelight on value-buying, recovering from recent losses
sparked by worries over the impact from recently launched
Goods and Services Tax (GST) in July.
Caution prevailed as retail or CPI inflation jumped more
than expected to 2.36 per cent in July, reducing the chances
of another interest rate cut by the Reserve Bank of India,
while wholesale inflation rose sharply to 1.88 per cent in
July, the first rise in five months.
The 30-share Sensex zoomed 321.86 points or 1.02 per cent
to close at 31,770.89, its highest closing since August 9,
when it had closed at 31,797.84. Intra-day, the gauge shuttled
between 31,805.99 and 31,399.35.
The NSE Nifty, which again went past the 9,900-mark to
touch a high of 9,903.95 intra-day, finally settled 103.15
points, or 1.05 per cent higher at 9,897.30.
In line with the overall trend, small-cap index ended
1.31 per cent higher, while mid-cap index surged 1.26 per
Stock exchanges were shut yesterday on account of
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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