Sensex at four-week high on global cues, climbs 195 pts to reclaim 26,000

The 30-share index rebounded 100 points, or 0.39 per cent, to 25,938.71, with all sectoral indices led by capital goods, oil and gas, power and banking trading in the positive zone, rising by up to 0.65 per cent.

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The barometer shed 11.59 points in the previous session on Thursday. Markets remained closed on Friday on account of Christmas. (Reuters photo)

The benchmark Sensex at the Bombay Stock Exchange gained over 700 points in the last eight trading sessions to close over the 26,000-mark on Monday. This follows the positive assessment of the US economy by the Federal Reserve in its meeting held earlier this month that led to a revival in investor sentiment and resultant inflow of foreign institutional money into the Indian equity markets.

The Sensex rose 195 points or 0.8 per cent on Monday to close at a four week high of 26,034 and the broader Nifty at National Stock Exchange gained 0.8 per cent or 64 points to close at 7,925.

The rise in markets comes on the back of continued inflow by domestic institutional investors and the arrest in FII outflow that had gained momentum over the last couple of months.

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While the DIIs invested a net of Rs 2,182 crore over the last eight trading days, the FIIs too have invested a net of Rs 1,732 crore. It is interesting to note that the FIIs turned positive over the last few trading sessions as in the first half of December, they had sold a net of Rs 5,182 crore from the Indian equities. In November they sold net investments worth Rs 7,074 crore.

The Indian markets, on Monday, gained despite a mixed movement in the Asian markets and weakness in the European markets. In Asia, the Shanghai Composite in China fell 2.6 per cent while the Hang Seng in Hong Kong lost 1 per cent on Monday. Nikkei in Japan was up 0.6 per cent on Monday. In Europe, Dax in Germany and CAC in France were down by over 0.7 per cent on Monday.

While pharma and utilities index at the BSE were the biggest gainers as they rose by over 1 per cent, metal, telecom and capital goods emerged as losers. Among the Sensex companies, the biggest gainers during the day were Dr Reddy’s and NTPC as they rose by 3.5 and 3.4 per cent, respectively.

Meanwhile, the rupee gained for the eighth straight trading session to close at 66.19.