Sensex at 2-wk high; IT stocks in limelight
Rising for third straight day, the BSE benchmark Sensex today surged nearly 161 points to close at two-week high level of 19,414 points on fag-end buying in realty, IT and banking shares amid strong global cues.business Updated: Mar 07, 2013 23:23 IST
Rising for third straight day, the BSE benchmark Sensex on Thursday surged nearly 161 points to close at two-week high level of 19,414 points on fag-end buying in realty, IT and banking shares amid strong global cues.
The 30-share gauge resumed slightly weak and remained listless till late afternoon trade, moving in just over 60 points. However, buying after 1330 hrs lifted it to settle at 19,413.54, a rise of 160.93 points, or 0.84%. In straight three sessions, the index has risen by 535.58 points.
The 50-stock Nifty of the NSE also improved further by 44.70 points, or 0.77% to close at 5,863.30.
Persistent buying by Foreign Institutional Investors (FIIs) also kept the market tempo upbeat. FIIs pumped in R524.05 crore on Wednesday as per the SEBI data.
"The realty stocks further surged higher on expectations that the RBI will cut interest rates in its monetary policy review meeting this month. The IT stocks also extended gains led by Infosys, Wipro, TCS & HCL Tech which hit 52-week highs today," said Amar Ambani, head of research India Infoline Ltd.