Mid-Session: Sensex surges 237 pts, Nifty tests 8,600; realty, metal stocks shine

18/10/2016 12:26

The Indian equities rebounded strongly on Tuesday as investors and speculators indulged in broad-based buying activity, tracking a positive trend across markets in Asia as mixed US economic data eased fears over an imminent Federal Reserve interest rate hike, bolstering risk taking appetite.

At 12:15 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27767.81, up by 237.84 points or by 0.86 per cent, and the NSE Nifty was at 8591.95, up by 71.55 points or by 0.84 per cent.

Meanwhile, softening inflation has also opened the door for further policy easing by the RBI in the coming months while a rebound in exports in September also augurs well for Asia’s third biggest economy.

The Indian rupee also strengthened against greenback as banks and exporters stepped up selling of the dollar tracking firm cues from domestic stock market.

In the day’s trade so far, the BSE Sensex touched intraday high of 27790.49 and intraday low of 27652.76, while the NSE Nifty touched intraday high of 8596.9 and intraday low of 8555.9.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 422.00,+2.75%), Housing Development Finance Corporation Ltd. (Rs. 1335.80,+2.60%), Adani Ports & Special Economic Zone Ltd. (Rs. 256.55,+2.25%), ICICI Bank Ltd. (Rs. 263.90,+2.07%), Reliance Industries Ltd. (Rs. 1080.00,+1.87%), among others.

Meanwhile, Oil And Natural Gas Corporation Ltd. (Rs. 277.00,-0.52%), Bharti Airtel Ltd. (Rs. 299.85,-0.46%), Asian Paints Ltd. (Rs. 1179.45,-0.29%), Maruti Suzuki India Ltd. (Rs. 5593.00,-0.12%), Tata Consultancy Services Ltd. (Rs. 2362.50,-0.02%), were among top losers on BSE.

On the sectoral front, all the indices were trading in green, barring oil&gas stocks, while metal and realty stocks were leading the gain, adding as much as 1.19 per cent and 1.09 per cent respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2771, shares advanced were 1791 while 814 shares declined and 166 were unchanged.

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