Sensex up 184 pts on buying at lower levels, global cues | business | Hindustan Times
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Sensex up 184 pts on buying at lower levels, global cues

business Updated: Jul 13, 2011 17:20 IST

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The BSE Sensex snapped 3-session falling streak and shot up 184 points to 18,596 as investors bought blue chips across sectors at lower levels, amid firm cues from global markets on better-than-expected growth numbers from China.

A surge in heavyweights such as RIL, ITC, HDFC Bank, L&T, ONGC, SBI, Bharti Airtel and Tata Motors contributed over 125 points to the gains.

Sectorally, consumer durables, refinery, realty, auto, health care, metal and banking counters attracted strong buying. Brokers said there was short-covering at lower levels after the 3-day fall.

The Bombay Stock Exchange 30-share barometer opened higher and remained in the positive terrain throughout the day, ending at 18,596.02 -- up 184.40 points or 1 %. In the last three sessions, it had fallen about 667 points or 3.49 %.

Similarly, the NSE 50-issue Nifty bounced back by 59.30 points or 1.07 % to 5,585.45.

Marketmen said there was fresh buying across the sectors on bargain hunting after recent declines triggered by Infosys Q1 results, fears about the spread of Europe's debt crisis and weak global cues.

They said Asian stocks settled higher today after the latest data showed faster than expected Chinese economic growth. The key indices in China, Hong Kong, Japan, Singapore and South Korea closed higher between 0.36 % and 1.48 %, while Taiwan ended just in negative terrain.