Sensex ended its seven-day losing streak to register a gain of 205 points after the Reserve Bank of India Governor, Raghuram Rajan, on Wednesday said the central bank is comfortable with core inflation and highlighted the Government measures to narrow current account deficit.
Sensex opened on a strong note at 20,351 against the previous close of 20,194. It hit the day’s high of 20,569 and low of 20,348 before closing at 20,399.
The NSE Nifty gained 67 points to 6,056.
Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio, said sentiment was boosted by positive global cues and US Fed’s statements indicating optimism in taking all actions needed to curb financial crisis.
Back home too, RBI Governor gave positive remarks over containing currency movement as well as CAD in near future, said Saraswat.
ICICI Bank, Tata Motors, Axis Bank and HDFC Bank were some of the major gainers.
Among the sectoral indices, auto, banking and realty were major gainers, up by over 2 per ent each, followed by Capital Goods, Power and Metal, up by over one per cent each. IT and Healthcare were marginally in negative.
Tata Power Company rose one per cent to Rs 79 after the company reported consolidated net profit of Rs 75 crore in the September quarter against net loss of Rs 84 crore. The Q2 result was announced during trading hours today.
Major gainers include Suzlon Energy (10%), Max India (7%), Axis Bank (7%), IRB Infra (6%), Adani Entertainment (6%), Prestige Estates (6%), YES Bank (6%), Tata Motors (6%) and GMR Infra (6%).
Losers were Coal India (-4%), Ashok Leyland (-3%), Ramco Cement (2%) and Cipla (-2%).