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BSE sensex surges 271 pts ahead of retail inflation, IIP numbers

Markets gained for the third straight session today with the benchmark Sensex...

By: PTI | Mumbai | Updated: February 12, 2015 5:09:11 pm
BSE Sensex, BSE Sensex record, NSE Nifty, Nifty record hight, market opening, market today, stocks, stocks news In three successive days, Sensex has gained 577.71 points. (Reuters)

Markets gained for the third straight session today with the benchmark Sensex surging over 271 points to 28,805.10 on fag-end buying in some blue-chips ahead of retail inflation and IIP data.

The NSE Nifty index reclaimed the 8,700-mark by rising 84.15 points, or 0.98 per cent, to end at 8,711.55 after shuttling between 8,732.55 and 8,599.25.

After slipping briefly into the red, the broader indices gained pace towards the closing hours.

The BSE Sensex resumed higher at 28,650.25 on initial buying and advanced further to 28,685.88 but succumbed to profit-booking and fell back to touch the day’s low of 28,406.25 in late morning trade.

However, the index rebounded during the afternoon session to touch the day’s high of 28,838.52 on fag-end buying before concluding at 28,805.10, logging a gain of 271.13 points, or 0.95 per cent, from its previous closing. This is its strongest close since 28,717.91 on February 6.

In three successive days, Sensex has gained 577.71 points.

Dr Reddy emerged the major gainer among Sensex stocks by surging 5.49 per cent to Rs 3,327.50.

Other prominent gainers in the 30-share Sensex include BHEL, Cipla, GAIL, Hindalco, Maruti Suzuki, L&T, Sesa Sterlite, Tata Power, Axis Bank, HDFC Ltd, HDFC Bank, Hero MotoCorp, ICICI Bank, Infosys, M&M,NTPC, ONGC and RIL.

Sentiments buoyed by the Finance Minister Arun Jaitley’s statement that the defeat in Delhi polls will not slow down the pace of economic reforms and optimism over the forthcoming Budget.

Investors are now eyeing December IIP data and January retail inflation, to be released later today, brokers said.

Sectorally, the BSE Power index gained the most by rising 2.51 per cent, followed by Capital Goods index 2.33 per cent, Healthcare index 1.69 per cent, Auto index 1.47 per cent, Infrastructure index 1.32 per cent, Realty index 1.28 per cent and IT index 1.04 per cent.

Supported by retail investors’ buying, the small-cap index rose 1.27 per cent and mid-cap index surged 1.13 per cent.

Major Sensex losers were Bajaj Auto, Bharti Airtel, Coal India, Hind Unilever, ITC Ltd, SBI and Sun Pharma.

Higher closing at other Asian markets and a better opening in Europe also influenced trading sentiments here.

Foreigners sold shares worth a net Rs 371.27 crore yesterday as per provisional data.

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