Markets

Sensex surges 219 points on value-buying, short-covering ahead of F&O expiry

Our Bureau Agencies Mumbai | Updated on January 23, 2018 Published on April 28, 2015

Indian equity shares rose about 1 per cent on Tuesday, recovering from their lowest close in 3-1/2 months in the previous session, as blue-chip stocks such as ICICI Bank surged on value-buying.

Gains were also helped by short-covering ahead of derivatives expiry on Thursday.

The 30-share BSE index Sensex surged 219.39 points or 0.81 per cent at 27,396.38 and the 50-share NSE index Nifty jumped 71.8 points or 0.87 per cent at 8,285.60.

Among BSE sectoral indices, banking index gained the most by 2.41 per cent, followed by auto 2.24 per cent, realty 1.6 per cent and power 1.4 per cent. On the other hand, FMCG index was down 0.73 per cent, followed by IT 0.39 per cent, consumer durables 0.07 per cent and TECk 0.03 per cent.

Top five Sensex gainers were ICICI Bank 8.02%, Maruti 4.93%, BHEL 2.76%, Tata Motors 2.43% and Bharti Airtel 2.26%, while the major losers were ITC 1.92%, Coal India 1.32%, Infosys 1.24%, Reliance 1.09% and HUL 0.89%.

Early trade

The 30-share index, which had lost 713.14 points in the previous three sessions, recovered by 70.92 points or 0.26 per cent, at 27,247.91 in early trade on value-based buying.

On similar lines, the National Stock Exchange index Nifty edged up by 16.45 points or 0.20 per cent to 8,230.25 in early trade.

Brokers' comment

Brokers said value-buying by funds and investors at prevailing levels despite a weak trend in global markets influenced the trading sentiment here.

European markets

European shares fell on Tuesday, with Commerzbank dropping after announcing plans to raise €1.4 billion ($1.52 billion) and Swiss sanitary equipment maker Geberit slipping following poor results.

The FTSEurofirst 300 index of top European shares was down 0.5 per cent at 1,634.21 points by 0711 GMT after gaining about 1 per cent in the previous session.

Asian markets

Asian stocks pulled back from a seven-year peak scaled on Tuesday as sentiment gave way to caution ahead of the Federal Reserve's policy two-day meeting scheduled to start later in the session.

MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.5 per cent after earlier touching its highest level since January 2008.

Published on April 28, 2015
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