Market snaps 5-day losing streak led by realty, banking and metal
At close, the Sensex was up 498.58 points or 0.64% at 78,540.17, and the Nifty was up 165.95 points or 0.70% at 23,753.45.
The BSE Sensex surged over 400 points while the Nifty reclaimed the 10,800-mark in mid-session trade today on widespread buying, led by rate-sensitive banking, realty and auto shares.
Markets had rallied yesterday as well after the RBI hiked the policy rate after a four-year pause on inflation concerns but maintained its neutral stance.
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Positive leads from Asian markets and sustained buying by domestic institutional investors added to the momentum, brokers said.
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The 30-share BSE Sensex opened on a strong footing at 35,278.38 and maintained its upward trend to hit a high of 35,591.13 at 1315 hrs by surging 412.25 points or 1.17 per cent.
The 50-share NSE Nifty climbed 118.75 points or 1.11 per cent to 10,803.40.
Shares of realty, metal, bankex, infrastructure, IT, oil and gas, teck, power, auto, healthcare, PSU, consumer durable and FMCG sectors witnessed robust demand, gaining up to 2.66 per cent.
Major index gainers were Tata Steel, Axis Bank, ICICI Bank, Tata Motors, RIL, Wipro, HUL, Yes Bank, Infosys, Adani Ports, ONGC, TCS, Asian Paints, Kotak Bank, HDFC Bank IndusInd Bank, M&M and Bharti Airtel, rising up to 3.33 per cent.
Domestic institutional investors (DIIs) had net bought shares worth Rs 712.31 crore, while foreign funds sold shares to the tune of Rs 81.40 crore yesterday, provisional exchange data showed.
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