Sensex gains 166 points, Nifty tops 10,600-level
Benchmark indices managed to close higher for the second session today, led by gains in refinery, capital goods, healthcare, auto, and banking stocks amid firming trend in global markets. The BSE Sensex rallied 165.87 to settle at 34,616.64 while NSE Nifty ended 29.65 points higher at 10,614.35. Gainers included Reliance Industries, Yes Bank, M&M, Adani Ports, ICICI, L&T, HDFC, Bajaj Auto, Dr.Reddy's and ONGC.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs), and encouraging earnings by blue-chips contributed to the uptrend, brokers said. Overseas, Asian markets closed mostly higher even as oil prices crossed $75 a barrel, the highest level since November 2014.
The BSE 30-share Sensex took off on a positive note at 34,491.38 and advanced to the day's high of 34,706.71 before ending at 34,616.64, up 165.87 points, or 0.48%. The gauge had gained 35.19 points in the previous session. Meanwhile, the NSE Nifty, after shuttling between 10,636.80 and 10,569, finally settled 29.65 points, or 0.28% higher at 10,614.35.
The gains were capped by selling pressure in metals, IT, tech, power, consumer durables, and PSU stocks. Meanwhile, DIIs bought shares worth Rs. 387.26 crore, while foreign portfolio investors (FPIs) sold shares worth Rs. 259.08 crore yesterday, provisional data released by the stock exchanges showed.