Sensex adds 187 pts on overseas trendshttps://indianexpress.com/article/news-archive/web/sensex-adds-187-pts-on-overseas-trends/

Sensex adds 187 pts on overseas trends

The benchmark Sensex on Monday gained 187 points on sustained buying in heavyweights.

Tracking firm global trends,the Bombay Stock Exchange benchmark Sensex on Monday gained nearly 187 points on sustained buying in heavyweights led by realty,banks and refiners after oil-producing countries decided to keep crude supply unchanged.

The Sensex,which recorded a hefty gain of 412 points in the last trading session,added 186.93 points to reach 8,943.54,after touching the day’s high of 8,955.73.

In volatile trading,the key index dipped to 8,697.46 points. The Sensex,which increased 5.2 per cent last week,had swung between gains and losses at least eight times during the day amid profit-booking at higher levels.

The 50-share National Stock Exchange index Nifty rose by 58 points to 2,777.25. It moved between 2,781.95 and 2,701.85 points during the day.

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Trading sentiment turned bullish as European and Asian stocks ended higher following easing concerns about the US banking system.

The banking stocks got a boost on reports of the G-20 saying that restoring lending was priority,while oil and refinery stocks went up on oil-producing countries deciding not to cut production.

The bank index rose by 2.86 per cent to 4,087.39 as segment major State Bank of India gained 3.65 per cent to Rs 987.80,after the G-20 during the weekend gave guidelines on how governments should rid banks of distressed securities.

The interest-sensitive realty sector index gained the most,adding 5.35 per cent to reach 1,483.91,followed by the oil and gas index,which was up by 3.44 per cent to 6,298.26 as the Organisation of Petroleum Exporting Countries,supplier of about 40 per cent of the world’s crude oil,agreed to maintain the current production level.

The PSU index rose by 2.84 per cent to 4,944.24,the FMCG index by 2.73 per cent to 1,935.15,the consumer durable index by 2.72 per cent to 1,519.77,the metal index by 2.37 per cent to 4,967.44,the capital goods index by 2.26 per cent to 5,919.90,and the auto index by 1.82 per cent to 2,824.72.

The power index was up 1.78 per cent to 1,968.26,the tech index 1.73 per cent to 1,726.82,healthcare index 0.81 per cent to 2,584.98 and the IT index 0.40 per cent to 2,199.17.

As buying activity was spread over a wide front,the midcap index rose 2.28 per cent to 2,700.56 and smallcap index 2.20 per cent to 2,998.49.