Sensex soars 240 points, Nifty above 10,680 at close, oil & gas stocks rise
At close, the BSE Sensex was 240.61 points or 0.69% higher at 35,165.48, while the NSE Nifty settled the day up 83.50 points or 0.79% at 10,688.65.business Updated: May 28, 2018 15:50 IST
The benchmark BSE Sensex reclaimed the soared over 240 points to close well above the 35,000-mark on Monday, on easing geopolitical concerns and a sharp correction in global crude prices.
A strengthened rupee, encouraging earnings by some more companies and easing concerns over US-North Korea summit too boosted investor sentiment.
At close, the BSE Sensex was 240.61 points or 0.69% higher at 35,165.48, while the NSE Nifty settled the day up 83.50 points or 0.79% at 10,688.65.
The rupee strengthened by 32 paise to 67.39 against the dollar at the interbank forex market in late afternoon on Monday.
Counters such as oil and gas, PSU, healthcare, realty, infrastructure, metal and banking were trading in the positive territory.
Sun Pharma shares rose 7.11% to Rs 499.70 after the drug maker on Friday posted 6.96% increase in its consolidated net profit at Rs 1,308.96 crore for the fourth quarter ended March 2018.
Other major gainers that supported the indices were Coal India, L&T, Asian Paints, SBI, Maruti Suzuki andYes Bank, rising up to 3.22%.
Traders said building of fresh long positions amid continued buying by domestic institutional investors (DIIs) and Brent crude falling by 1.88% to $75 per barrel in global markets, kept the bullish sentiment intact.
Meanwhile, on Friday, DIIs bought shares worth a net of Rs 887.76 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 768.29 crore, provisional data showed.
The US Dow Jones Industrial Average ended 0.24% lower in Friday’s trade.