Sensex, Nifty spurt over 1% to close over 3-month high, extend rally to 3rd straight day
India Today
The benchmark indices closed with gains today as the Sensex skyrocketed 712 points. On the other hand, NSE Nifty 50 ended at 17,158, jumping 1.35 per cent.
Benchmark BSE Sensex and Nifty spurted over 1 per cent to close at over three-month high levels on Friday following buying in index majors Reliance Industries, Infosys and HDFC twins.
Extending the rally to a third straight day, the 30-share BSE barometer jumped 712.46 points or 1.25 per cent to settle at 57,570.25 -- the highest closing level since April 25. During the day, it rallied 761.48 points or 1.33 per cent to a high of 57,619.27.
The broader NSE Nifty rallied 228.65 points or 1.35 per cent to end at 17,158.25 with 43 of its shares closing in the green.
Analysts said better quarterly results, FII buying and expectations that the US Fed may temper its aggressive interest rate hikes boosted investor sentiment.
"In India, the big positive for the market is FIIs reducing their selling substantially and even turning buyers for 8 days this month. The expected outperformance of financials has played out well. Q1 results indicate improving prospects for this segment," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Tata Steel jumped 7.27 per cent to emerge as the biggest Sensex gainer.
Sun Pharma spurted 5.45 per cent, Bajaj Finserv by 2.64 per cent, IndusInd Bank by 2.52 per cent, Asian Paints by 2.38 per cent and Infosys by 2.12 per cent.
