Sensex snaps 3-day losing streak.

Higher Markets

Rising for the first time in four days, the BSE benchmark Sensex on Friday gained a massive 350.77 points to close above the 19,000 level on all-round buying by funds as lower headline inflation revived hopes of a rate cut by RBI next week, amid smart recovery in global markets.

The 30-share index started the day strong at 19,022.68 and increased further to settle 350.77 points, or 1.86 per cent, higher at 19,177.93. Sensex had slipped below the 19,000-level to 18,827.16 yesterday, losing 613.91 points, or 3.16 per cent in last three sessions.

Similarly, broad-based National Stock Exchange Nifty rose by 109.30 points, or 1.92 per cent, to close at 5,808.40.

Also, MCX-SX flagship index, SX40, ended 207.09 points higher, or 1.85 per cent, at 11,386.45.

Out of the 30 Sensex stocks, 26 ended higher led by Hindalco, Tata Motors and Maruti.

The market heavy Reliance Industries surged by 3.15 per cent to Rs 814, and second most heavy Infosys by 0.88 per cent to Rs 2,400. The most heavy ITC shot up by 1.41 per cent to Rs 331.40. The three stocks carry nearly 25 per cent weightage on the Sensex.

Sectorally, the consumer durable sector index gained the most, rising 3.52 per cent to 6,592.76 followed by auto sector by 3.01 per cent to 10,697.47. Realty index rose by 2.86 per cent to 1,602.17 and metal index by 2.50 per cent to 7,940.23.

Source : The Hindu

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