Sensex ends above 21,000 level after 5 weeks, rises 133 pts
The benchmark Sensex on Friday jumped over 133 points to reclaim the 21,000 mark buoyed by gains in bluechips like TCS, Tata Motors and Hindalco, to log the best weekly rise since November 2013.business Updated: Feb 28, 2014 16:58 IST
The benchmark Sensex on Friday jumped over 133 points to reclaim the 21,000 mark buoyed by gains in bluechips like TCS, Tata Motors and Hindalco, to log the best weekly rise since November 2013.
Brokers said sentiment was strong as foreign investors have remained net buyers of Indian stocks in past ten days.
Firm global cues also helped after US Fed Chairperson Janet Yellen on Thursday reiterated the Fed is likely to continue tapering asset purchases at a "measured" pace.
After gaining 450 points in past four sessions, the BSE Sensex shot up by 133.13 points, or 0.63 %, to end at 21,120.12. The index last closed above the 21,000 level on January 24 when it concluded at 21,133.56.
The gauge had touched the day's high of 21,140.51 intra-day today. Experts said all eyes are on India's October-December quarter GDP growth.
Hindalco led the 18 gainers in 30-share Sensex. TCS, Tata Motors, Sun Pharma, ONGC and BHEL were among notable winners.
However, Maruti Suzuki led the 12 Sensex losers. Shares of the carmaker lost 4.54 %, amid investor concerns regarding its proposed Gujarat plant.
For the week, the Sensex gained 419.37 points -- the biggest rise since the week ending November 29, 2013 when the barometer surged 574.54 points.
"Going ahead, the markets would continue to follow developments on the political scene and geopolitical developments in Ukraine," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.
The National Stock Exchange index Nifty rose 38.15 points, or 0.61 %, to end at 6,276.95, after climbing to 6,282.70 intra-day.
Sectorally, the BSE healthcare sector index gained the most by rising 2.27 %, followed by IT index (1.44 %), Auto index (1.37 %) and Capital Goods (1.18 %). Overall, nine of the 12 sectoral indices gained.
Oil&gas, consumer durables and FMCG ended in the red.
Global markets, including those in Asia, were positive ahead of reports on American housing, consumer spending and economic growth.
First Published: Feb 28, 2014 10:15 IST