Sensex trends up 150 points after RIL numbers buoy mood
Continuing its rising streak for the third straight session, the benchmark BSE Sensex surged over 150 points to close at about two-month high led by gains in Reliance Industries after the company posted its record earnings in the September quarter.business Updated: Oct 19, 2015 17:27 IST
Continuing its rising streak for the third straight session, the benchmark BSE Sensex surged over 150 points to close at about two-month high led by gains in Reliance Industries after the company posted its record earnings in the September quarter.
A mixed Asian trend, on hopes that China will announce a fresh clutch of stimulus measures after data showed the economy grew at its slowest pace in six years in July-September, influenced sentiment.
The BSE 30-share Sensex resumed strong at 27,305.62 and maintained its upward momentum to hit the day’s high of 27,387.91 before closing higher by 150.32 points, or 0.55% at 27,364.92 -- its strongest close since 27,366.07 on August 21. The index has now gained over 585 points in the last three sessions.
The NSE Nifty index too edged up 36.90 points, or 0.45%, to end at 8,275.05 after moving between 8,283.05 and 8,239.20. Reliance Industries impacted BSE and NSE most positively. It emerged as the top gainer by ending 5.61% higher at Rs 963.40 on BSE after the company reported its highest ever quarterly net profit Rs 6,720 crore for the three months ended September 30. Other gainers in the 30-share Sensex include Bharti Airtel, Infosys, Sun Pharma, Dr Reddy’s and Hero MotoCorp.
In the 30-Sensex constituents, 18 ended in the positive zone. Sentiment remained bullish with the foreign funds turning buyers on domestic bourses and a better-than-expected earnings season so far, brokers said. Sectorally, the BSE realty index won the day by rising 2.57%, followed by technology, healthcare, IT and oil and gas.
Those who lost out included ONGC, Tata Motors, Tata Steel, L&T and Hindalco, capping the rise in the benchmark. Helped by retail investors’ sustained buying, the small-cap index rose 0.77% and mid-cap index surged 0.69%.
Mixed closing at other Asian markets and a better opening in Europe also played their part. Foreign investors net bought shares worth Rs 436.79 crore last Friday, provisional data showed.