Journalism of Courage
The BSE Sensex maintained its rising trend for the fourth straight day today,surging over 628 points at mid-session on brisk buying by foreign funds led by telecom and auto stocks on firming rupee and a better global trend.
The rally was backed by stocks of Bharti Airtel,Tata Motors,Infosys,Bajaj Auto,Maruti Suzuki India,Reliance Industries (RIL),Oil & Natural Gas Corp (ONGC),State Bank of India (SBI),ICICI Bank,Hero MotoCorp and ITC Ltd.
After climbing 1,030 points in the last three sessions,the BSE Sensex spurted by 628 points,or 3.26 per cent,to 19,898.38 at 1420 hrs on heavy capital inflow.
Brokers said foreign investors (FIIs) remained net buyers in fundamentally strong stocks as the Indian rupee continued its rising streak to the US dollar.
They said telecom stocks climbed after the regulator TRAI suggested lowering prices for auctioning airwaves and auto stocks rose on higher car and scooter sales in August.
The broad-based National Stock Exchange index NSE Nifty jumped up by 186.20 points,or 3.28 per cent,to 5,866.60 at the same time.
