The benchmark Sensex recouped most of the previous session losses to end 102.32 points up near record highs powered by gains in HDFC, TCS and Sun Pharma shares ahead of industrial output and retail inflation data release due later today.
Smallcap and midcap stocks were also seen back in demand, helping sentiments improve, said equity dealers.
The BSE Sensex resumed higher at 25,597.21 and firmed up further to a high of 25,611.32 on initial buying support. It declined afterwards to 25,409.69, before settling at 25,576.21 – showing a rise of 102.32 points, or 0.40 per cent.
Yesterday, the bluechip index had lost 109.80 points after hitting a new lifetime high of 25,735.87.
Brokers said the undercurrent remained strong on continued fund inflow on hopes of reforms and economic revival after the Narendra Modi-led government took charge.
- Shah Rukh Khan On Raees Clash With Kaabil: It’s Impossible To Have A Solo Release In India
- US-President Elect Donald Trump Named TIME’s Person Of The Year 2016
- O. Panneerselvam: 10 Things You Need To Know
- PM Narendra Modi Slams Opposition For Not Letting Parliament Function
- Nawazuddin Siddiqui On Working In Raees: Was Nervous To Shoot With Shah Rukh Khan
- Bathinda Dancer Murder: Video Showing Accused Opening Fire At Marriage
- 5 Lesser Known Facts About Sasikala Natarajan
- Congress Leader Shashi Tharoor’s Delhi Home Burgled: Here’s What Happened
- Reserve Bank Of India Keeps Repo Rate Unchanged Post Demonetisation
- Bigg Boss 10 Dec 06 Review: Swami Om Pees In Kitchen
- Lenovo k6 Power Video Review
- Bigg Boss 10 December 5 Review: Manveer Calls Swami Om ‘kachdaa’
- PM Narendra Modi Declared Winner Of TIME Magazine’s Person Of The Year – Reader’s Poll
- Paneerselvam sworn in as new Chief Minister of Tamil Nadu
- Tamil Nadu CM J Jayalalithaa Passes Away After Suffering Cardiac Arrest
They said investors picked up fundamentally strong stocks amid expectations of favourable IIP (Index of Industrial Production) and Consumer Price Index (CPI) inflation numbers to be released in the evening.
The Sensex surge was led by HDFC, HDFC Bank, TCS and Sun Pharma that gained between 1.2-2.8 per cent.
Bharti Airtel came under pressure and lost 3.57 per cent to Rs 341.55 on reports that a foreign brokerage has downgraded the stock. Heavyweight RIL fell 0.63 per cent.
Infosys stock, cynosure of all eyes, moved between Rs 3,298 and Rs 3,120.65 before ending 0.38 per cent down at Rs 3,166.60. The company before trading announced the appointment of Vishal Sikka as CEO and Managing Director.
Out of 30-Sensex shares, 20 ended higher and nine led by Axis Bank, BHEL, Coal India, ICICI Bank and Sesa Sterlite finished in negative zone. Tata Power ended steady.
Meanwhile, the NSE 50-share Nifty rose 23.05 points, or 0.30 per cent, to end at 7,649.90. It had crossed the 7,700 points level for the first time in yesterday’s trade.
Globally, Asian indices ended lower but there was a higher opening in European markets. Investors await data on US retail sales and jobless claims.