Sensex jumps 235 points, Asian shares rally to 4-1/2-month peak

New Delhi: Markets posted sharp gains on Wednesday buoyed by strength in Asian shares that rose to 4-1/2-month peak. Metal, banking and realty stocks soared amid sustained buying by domestic institutional investors.

The BSE Sensex rose 235.08 points or 0.66 percent to 35,587.69 in early trade while the NSE Nifty jumped 71.75 points or 0.68 percent to 10,676.10.

Top gainers in the Sensex pack on Wednesday include ONGC, Vedanta, Yes Bank, Bajaj Finance, Axis Bank, Sun Pharma, L&T, Tata Steel, HDFC, Reliance and Bharti Airtel, rising up to 2.12 percent.

On the other hand, HCL Tech, Hero MotoCorp, Bajaj Auto and M&M were the losers, falling up to 0.76 percent.

On a net basis, DIIs were net buyers to the tune of Rs 1,163.85 crore, while foreign institutional investors sold shares worth a net of Rs 813.76 crore on Tuesday, provisional data available with BSE showed.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose nearly 1.0 percent to reach its highest levels since October 2, a Reuters report said. Hong Kong’s Hang Seng gained 1.1 percent to six-month highs, while Korea’s Kospi and Taiwan’s index recovered to levels last seen in early October. Japan’s Nikkei gained 0.75 percent to two-month highs.

Chinese shares rose 0.4 percent, extending their run of gains to 18 percent from their Jan. 4 trough, thanks to inflows of foreign funds.

With Agency Inputs