Sensex closes at 15-month high; Nifty reclaims 5,700
The BSE benchmark Sensex on Friday jumped by 183 points to end at a 15-month high on buying in auto, FMCG and metal stocks amid strong global cues and a surging rupee.
Mumbai: The BSE benchmark Sensex on Friday jumped by 183 points to end at a 15-month high on buying in auto, FMCG and metal stocks amid strong global cues and a surging rupee.
After gaining 269 points at the outset, the Sensex closed up 183.24 points, or 0.99 percent, at 18,762.74, a level last seen on July 7. The 30-share barometer has gained 8.2 percent this month.
The broad-based National Stock Exchange index Nifty climbed to psychological 5,700 level by adding 53.80 points, to end at 5,703.30. It touched the day's high of 5,735.15.
A firming global trend and the rupee rising to five-month high against the dollar helped the market commence the new settlement in the derivatives segment on a promising note.
Brokers said the sentiment bolstered on sustained foreign funds inflow amid expectation that the government?s policy reforms will revive investments and economic growth.
The Sensex has risen 4.7 percent since September 13 when the government hiked diesel prices and opened retail and aviation sectors to foreign direct investments.
There were more supporting factors like firm foreign markets on optimism Spanish and French measures to reduce budget deficits might help in resolving the region?s debt crisis, brokers said.
In 30-BSE index components, 25 stocks closed with gains. Reliance Industries, HDFC Ltd, Hindustan Unilever, ITC, Maruti Suzuki, Mahindra and Mahindra and Tata Motors were among the major gainers.
The current rally was led by auto, consumer durables and FMCG stocks.
The auto sector index gained the most by 1.89 percent to 10,413.19 followed by consumer durables by 1.63 percent to 6,939.84. FMCG index rose by 1.42 percent to 5,507.46.