Sensex goes past 28K, Nifty closes above 8,600
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MUMBAI: Equities jumped today as the benchmark BSE Sensex recaptured the 28,000-level by surging 293 points and NSE Nifty breached the 8,600-mark on continued buying by investors ahead of IIP and inflation data.
Brokers said widening of positions by participants ahead of key economic data -- industrial production (IIP) for June and consumer price index (CPI) for July to be released after market closing today- helped boost trading sentiment.
Domestic markets took cues from firming trend at other Asian bourses and higher opening in European market following a record close overnight at Wall Street in view of surging oil prices.
For the week, the Sensex rose by 74.05 points, or 0.26 per cent, while the Nifty shed 11 points, or 0.12 per cent.
The BSE Sensex surged 292.80 points, or 1.05 per cent, to end at 28,152.40 on widespread gains ahead of release of key macroeconomic data -- IIP for June and Consumer Price Index-based inflation (CPI) for July.
The gauge had gained 84.72 points in yesterday's trade.
The broader NSE Nifty recaptured the 8,600-mark and ended at 8,672.15, up 80 points or 0.93 per cent. Intra-day, it moved between 8,684.30 and 8,604.45.
SBI stock surged 7.16 per cent to Rs 243.20 despite posting a massive 77.8 per cent fall in its net profit at Rs 1,046 crore for the June quarter. Axis Bank shares rose 3.99 per cent to Rs 590.75 and Tata Motors by 2.58 per cent to Rs 515.25.
Other big movers of the day are Power grid (2.24 per cent, RIL (2.22 per cent), HDFC ltd (2.21 per cent ), M&M (2.12 per cent), Tata Steel (1.71 per cent), ICICI Bank (1.49 per cent), Adaniports (1.46 per cent), TCS (1.04 per cent), L&T( 0.96 per cent) and ONGC ( 0.87 per cent).
Oil stocks led by RIL and ONGC were also in limelight as crude oil extended their rally in global markets.
Among sectoral indices, banking index rose the most by 2.03 per cent followed by metal 1.26 per cent, PSU 1.18 per cent, auto 1.07 per cent, infrastructure 0.99 per cent, power 0.82 per cent, capital goods 0.64 per cent, FMCG 0.61 per cent and consumer durables 0.26 per cent.
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