Markets: On positive global clues, Indian bourses bounce back
Virendra Pandit
New Delhi: Reacting to firm global markets, Indian bourses, after a cautious rise in recent days, witnessed on Tuesday Sensex jumping 1,131 points to reclaim the 75,000 mark and Nifty surging 345 points.
The BSE benchmark index Sensex jumped 1.53 percent or 1,131.31 points to close at 75,301.26 while the NSE Nifty surged 1.45 percent to close at 22,834.30, powered by widespread buying amid a bullish trend in global equities as investors scooped up cheaper stocks on hopes that the market has bottomed out after it slipped into correction territory in November, the media reported.
Extending its previous day’s rally, the 30-share BSE soared upto 1,215.81 points or 1.63 percent to 75,385.76. The NSE Nifty surged 325.55 points or 1.45 percent to 22,834.30.
From the Sensex pack, Zomato jumped over 7 percent, while ICICI Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, Asian Paints, Titan, Kotak Mahindra Bank and State Bank of India were among the other gainers. However, Bajaj Finserv, Bharti Airtel, Tech Mahindra and Reliance Industries were the laggards.
At the interbank foreign exchange, the rupee witnessed high volatility. It opened at 86.71 to a US dollar then touched the intraday high of 86.54 and the low of 86.78 against the greenback to close 26 paisa higher at 86.55, boosted by likely inflows of dollars and persistent weakness in the greenback, which teetered near a five-month low against other major world currencies.
The stocks that advanced on BSE numbered 2,771 against 1,207 stocks that declined, and 138 remained unchanged. Total stocks traded were 4,116. The number of stocks that recorded a 52-week high was 61, and those that hit a 52-week low was 281. A total of 223 stocks traded in the upper circuit, and 274 in the lower circuit.
