Sensex jumps to 30-month high; investors richer by Rs 40,000 cr
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Rising for the fifth straight day, the Bombay Stock Exchange (BSE) benchmark sensex Tuesday closed at over 30-month highs gaining 143 points on earnings-related buying in consumer durables, fast moving consumer goods (FMCG) and banking shares, amid firm global cues.
The sensex, which gained 308 points in past four sessions, advanced by 143.01 points, or 0.71 per cent to 20,302.13, a level last seen January 5, 2011. 21 stocks gained in the 30-share bluechip index.
Investors Tuesday became richer by Rs 40,000 crore with market capitalisation standing at Rs 66.32 lakh crore as around 1,150 stocks gained on the BSE on good buying.
The broad-based National Stock Exchange (NSE) index Nifty rose by 46 points, or 0.76 per cent to 6,077.80.
The move by RBI on Monday to curb gold imports to slash record current account deficit (CAD) was one of the reasons that helped boost sentiments in markets, brokers said.
A shift in funds into domestic stocks from bullion and forex markets was also seen supporting the market, they added.
Gains in ITC, Infosys, RIL, ICICI Bank and HDFC Bank helped sensex stay in positive zone throughout the session.
Sectorally, the BSE consumer durable sector index gained the most — 3.85 per cent to 6,570.53, followed by BSE FMCG index by 1.53 per cent to 7,548.43, BSE Realty by 1.42 per cent to 1448.57 and BSE Bankex by 1.29 per cent to 163.47.
Globally, Asian shares were firm and Europe opened higher after unexpected drop in existing home sales in June in the US renewed hopes that the Federal Reserve will maintain its monetary stimulus for a little longer, experts said.
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