BSE Sensex reclaims 20,000-level after 3 months
Mumbai: The BSE benchmark Sensex on Wednesday regained 20,000 level for the first time in over three months on sustained capital inflows and better earnings, but slipped to close a tad lower.
After hitting 20,000 level, the Sensex closed 101.23 points, or 0.51 percent, at 19,990.18, a level last seen on January 31. It had gained 313 points in last two sessions.
The current upsurge was supported by stocks of FMCG, oil and gas and banking sectors, besides a rally in HDFC Ltd and Lupin Ltd on better earnings.
The broad-based National Stock Exchange index Nifty rose by 25.75 points, or 0.43 percent, to 6,069.30.
MCX Stock Exchange (MCX-SX) flagship index SX40 rose 65.53 points, 0.56 percent, to close at 11,796.74 points today.
Brokers said the market remained in bullish mode ever since the Reserve Bank of India cut key interest rate to bolster economic growth last week and heavy foreign funds inflows.
Foreign funds bought a net USD 171 million of Indian shares in the previous session, extending their net investment this year to USD 12 billion, a record for the period.
They said a firming global trend as China's exports topped estimates and European central bank cutting interest rates to revive economy, further fuelled the uptrend.
In 30-BSE index components, 14 stocks gained led by HDFC Ltd, HDFC Bank, ITC Ltd, Reliance Industries and Infosys, Tata Consultancy Services.
The FMCG sector index gained the most by 1.43 percent to 6,752.61 followed by oil and gas index by 0.11 percent to 8,850.12. Banking index rose by 0.11 percent to 14,453.21 and healthcare index by 0.08 percent to 8,882.43.