Sensex rallies 479 points; Nifty posts biggest daily gain in 2 months

Our Bureau |Agencies | | Updated on: Dec 06, 2021

sensex

Indian shares ended the session higher by nearly 2 per cent, with the NSE index posting its biggest daily gain in more than two months, as investors snapped up beaten down blue-chips after the Lower House of Parliament approved the 2015/16 Finance Bill on Thursday.

The 30-share BSE index Sensex surged 479.28 points or 1.77 per cent to 27,490.59, marking its biggest single-day gain since March 30, 2015.

Similarly, the 50-share NSE index Nifty jumped 150.45 points or 1.84 per cent to 8,331.95, posting its best daily gain since February 27, 2015.

All BSE sectoral indices ended significantly in the green with oil & gas, PSU, realty and healthcare stocks driving the uptrend. Among them, oil & gas index gained the most by 3.52 per cent, followed by PSU 3.01 per cent, realty 2.51 per cent and healthcare 2.35 per cent.

Top five Sensex gainers were ONGC 7.57%, Bajaj Auto 7.4%, Cipla 5.8%, M&M 4.72% and BHEL 3.29%, while the only three losers were ICICI Bank 0.63%, Tata Motors 0.34%, and L&T 0.12%.

Brokers' comment

Brokers said fresh positions built up by participants, following the beginning of May series in the derivatives segment and value-based buying in select counters, boosted the trading sentiment.

Besides, a firm trend in global markets triggered buying in domestic bourses, they added.

Strong growth in passenger car sales in April also raised hopes of a revival in Asia's third largest economy.

"May's start would be good and will continue if the tax and land acquisition bills are resolved," said Deven Choksey, managing director at KR Choksey Securities.

Meanwhile, overseas investors have sold Indian shares worth $1.75 billion over the last 12 sessions, excluding Daiichi Sankyo's share sale in Sun Pharmaceutical Industries.

Stocks of auto companies led by Maruti Suzuki were in some demand largely on the back of encouraging sales growth in April.

Shares of state-run oil companies such as HPCL, BPCL and IOC were also up largely supported by a hike in petrol and diesel prices.

Global markets

European shares rose on Monday, led higher by Germany after upbeat factory activity, while the dollar steadied following signs that the US economy may be emerging from a recent soft patch.

Euro zone powerhouse Germany’s manufacturing sector lost some momentum in April but continued to expand, while in France the sector’s final PMI showed activity contracting and falling for a 12th successive month.

The pan-European FTSEurofirst 300 equity index was up 0.4 per cent, adding to earlier meagre gains after the data.

Germany’s DAX index rose 0.8 per cent, outpacing France’s CAC, which was up just 0.3 per cent.

Asian stocks bounced from their lows on Monday and the Australian dollar pared early losses as weak China factory activity reinforced views that Beijing will roll out fresh support measures soon for the world's second-largest economy.

The bounce in China's markets pulled the MSCI's broadest index of Asia-Pacific shares outside Japan up 0.2 per cent. Australian stocks were slightly higher and South Korea's main index managed to inch up 0.3 per cent.

On Wall Street, the Dow had ended on Friday up 1.03 per cent, while the S&P 500 gained 1.09 per cent and the Nasdaq 1.29 per cent.

Published on May 04, 2015
COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you