Monday, 5 October 2015

Sensex ends 565 points up at 26,785, Nifty settles at 8,119; Jindal Steel gains over 16% --- 5 Oct 2015

Tracking positive cues from other Asian markets, the benchmark BSE Sensex closed 564.60 points, or 2.15 per cent, up at 26,785.55. Nifty closed 168.40 points up at 8,119.30.

In the 50-share index, Tata Steel, Tata Motors, ICICI Bank, Bosch and HDFC gained between 5 per cent and 6.25 per cent. On the other hand, Maruti Suzuki India, Dr Reddy’s Laboratories and Lupin slid between 1 per cent and 3.50 per cent.
Among the sectoral indices on the Bombay Stock Exchange, the BSE Capital Goods index gained the most — 3.28 per cent at 15721.95, followed by BSE Bankex (up 2.80 per cent), BSE Metal index (up 2.49 per cent), BSE Power index (up 2.31 per cent) and BSE Auto index (up 2.12 per cent). Rest all other indices also closed in green. A surge in Glencore stocks in international markets lifted the mining sector stocks back at home too.
Alex Mathews, head, research, Geojit BNP Paribas Financial Services, said, “The domestic markets on Monday remained in the positive zone as of revived sentiments in the global front and on the consistent buying in almost all counters.”
Traders also took cues from the strength in rupee which surged to its one month high, though the undertone remained positive after the bigger-than-expected rate cut from the Reserve Bank of India last week. Traders also drew some support with economic affairs secretary Shaktikanta Das’ statement that India is rolling out the red carpet for overseas investors with sweeping foreign investment policy reform and quicker approvals. He said that Foreign Investment Promotion Board (FIPB) will now meet twice a month to speed up approvals, signaling the clear intent of the government to push ahead with reforms on a wide range of issues.
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