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Indian equity markets extended their rally for the second straight session as the US Fed’s dovish stance on hiking interest rates in short-term spurred the market momentum across the globe and gripped the domestic bourses too.
Also, the Cabinet approval for Goods and Services Tax (GST) buoyed the sentiment, prompting investors to go for short-covering ahead of the expiry next week.
The BSE benchmark Sensex surged 245.27 points or 0.9 per cent to 27,371.84 and the 50-share NSE index Nifty gained 65.9 points or 0.81 per cent at 8,225.20.
Quite puzzling that IT stocks should shoot up every time rupee weakens! Indian software profits rely more on global growth than rupee effect
— Aarati Krishnan (@AaratiKrishnan)
December 19, 2014Sectoral indices
Among BSE sectoral indices, IT index was the star-performer and was up 1.95 per cent, followed by metal 1.79 per cent, oil & gas 1.48 per cent and TECk 1.39 per cent, while FMCG index was down 0.92 per cent, followed by realty 0.82 per cent, auto 0.16 per cent and consumer durables 0.03 per cent.
Gainers, losers
Major gainers were ICICI Bank (2.95%), Wipro (2.76%), Tata Power (2.7%), Hindalco (2.64%) and Coal India (2.49%), while the top five losers were HUL (1.95%), Bajaj Auto (1.58%), ITC (1.37%), Bharti Airtel (1.35%) and Cipla (1.2%).
SEBI Appellate Tribunal hearing for DLF continues today when SAT counsel will argue his case. Stock is down 1.7% to Rs 133.6
#realty
— Meera Siva (@siva_meera)
December 19, 2014Early trade
The 30-share index, which had gained 416.44 points in the previous session, rose further by 314.29 points, or 1.16 per cent, to 27,440.86 in early trade.
Also, Nifty reclaimed the 8,200-mark by moving up 82.10 points, or 1.01 per cent, to 8,241.40.
Meanwhile, Foreign Portfolio Investors sold shares worth Rs 874.89 crore yesterday, as per provisional data.
European shares
European stocks climbed early on Friday, with French information technology services firm Atos SE leading a rally in tech stocks after unveiling a deal to buy Xerox Corp’s IT outsourcing arm.
Shares in Atos rose 6 per cent, leading gains in the STOXX Europe 600 Technology sector, which was up 1.1 per cent at 0814 GMT.
The FTSEurofirst 300 index of top European shares was up 0.7 per cent at 1,366.26 points, adding to a 3 per cent rally on Thursday.
Asian shares
Japanese stocks led the Asian markets higher on Friday as US stocks extended a Federal Reserve-fuelled rally overnight with the S&P 500 posting its best two-day advance in three years.
In Asia, Japan's Nikkei climbed 1.9 perc ent to erase much of its recent losses, while Australia's main index added 1.4 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan put on 0.6 per cent.
And the rally resumes. Neither the
#Sensex and
#Nifty nor the
#Dow and S&P 500 have delivered a correction of more than 10% so far this year
— lokeshwarri sk (@lokeshwarri)
December 19, 2014US stocks
The Dow Jones industrial average rose 421.28 points, or 2.43 per cent, to 17,778.15, the S&P 500 gained 48.34 points, or 2.4 per cent, to 2,061.23 and the Nasdaq Composite added 104.08 points, or 2.24 per cent, to 4,748.40.
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