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HindustanTimes Mon,21 Apr 2014

US data drives Sensex up

PTI  Mumbai, November 02, 2012
First Published: 10:02 IST(2/11/2012) | Last Updated: 21:29 IST(2/11/2012)

Rising for the third straight day, the BSE benchmark Sensex on Friday spurted by nearly 194 points to over one-week high of 18,755.45 on heavy buying in capital goods, auto and bank shares amid a firming trend in global markets on upbeat US economic data.

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The Sensex, which had gained over 130 points in last two trading sessions, rose further by 193.75 points, or 1.04% to 18,755.45 -- the highest since October 25 when it ended at 18,758.63.

Around 26 stocks in the 30-share index closed with gains led by Gail, Bajaj Auto, L&T and ICICI Bank.

The wide-based National Stock Exchange index Nifty rose by 52.65 points, or 0.93%, to close at 5,697.70.

"...positive US economic data released recently boosted the buying. Indian market breadth was positive and volumes were also higher. European and Asian indices also traded higher and underpinned the positive sentiment," said Nidhi Sarswat, senior research snalyst, Bonanza Portfolio.

Brokers also said trading sentiment was bolstered after IT major Wipro reported 23.8% growth in consolidated net profit for the second quarter ended September 30.

Its shares, which closed 1% higher, helped improve sentiment in the IT pack with TCS and Infosys also up over 1% each.

Capital goods stocks, including L&T and Bhel, were among the best performers on the back of foreign funds flow while realty, auto and metal stocks also scored gains.

Besides, a firming trend on the Asian bourses and a higher opening on the European markets eyeing robust US jobs and manufacturing data later today, also triggered buying activity on the domestic boures, they said.

The BSE capital goods sector index topped the sectoral charts todat with a rise of 1.74%.

All the 13 sectoral indices closed with gains.

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