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Sensex ends 3-day losing streak, gains 230 points
Ending three-day losing streak, the benchmark BSE Sensex on Thursday rebounded by 230.48 points to recapture the 27,000-level on the back of value buying in blue-chips
Ending three-day losing streak, the benchmark BSE Sensex on Thursday rebounded by 230.48 points to recapture the 27,000-level on the back of value buying in blue-chips led by auto, PSU and metal amid firm global trend.
Market mood turned positive in line with a strong rally in Asian and European shares after a weak US data reinforced expectations of a delay in rate hike by the Federal Reserve.
Domestic auto stocks were in the limelight on hopes of a surge in sales during the festive season.
The 30-share BSE barometer index stayed in the positive terrain throughout the session and after recapturing the 27,000-level touched a high of 27,037.95. It finally settled 230.48 points or 0.86% higher at 27,010.14.
The gauge had lost around 300 points in the previous three sessions on disappointing set of second quarter numbers.
The 50-share NSE Nifty also recovered by 71.60 points or 0.88% to close at 8,179.50.
Tata Motors was the top Sensex gainer after surging 8.06% to close at a two-month high of Rs 380.70 as its Jaguar Land Rover unit reported a 3% jump in September sales.
Maruti Suzuki too surged 3.01% while Hero MotoCorp gained 2.37% in anticipation of a rise in their sales during the festive season.
Other gainers included BHEL 3.02%, Tata Steel 2.94%, GAIL 2.16%, Coal India 2.14%, ONGC 2.04%, SBI 1.92% and Lupin 1.84%.
However, shares of M&M, Wipro, Hindalco, Hind Unilever, Cipla, NTPC, TCS and Infosys ended up to 0.86% lower.
Sectorally, the BSE auto index gained the most by rising 2.33%, followed by PSU 1.54%, oil&gas 1.51%, metal 1.40%, capital goods 1.22% and power 1.18%.
Broader markets too performed better with the BSE mid-cap index rising 0.79% and small-cap gaining 0.48%.
