Stocks

Sensex jumps 564 points on strong foreign fund inflows

Our Bureau Mumbai | Updated on January 22, 2018 Published on October 05, 2015

sensex-chart

sensex



With the US having failed to create enough jobs through September, foreign investors continued to pour money into the Indian stock market. The benchmark indices moved up over 2 per cent on Monday to a six-week high. Major Asian and European indices traded in the green as well, on rumours of a possible economic stimulus plan by China.

The Sensex rose 564 points to close at 26,785, led by banks and auto stocks, while the Nifty gained 168 points to finish at 8,119.30.

Jayant Manglik, President, Retail Distribution, Religare Securities Ltd, said the US jobs data, showing lower than estimated job additions, fuelled a rally across global markets on hopes of an easier US monetary policy.

“On the domestic front,” he said, “sentiments were optimistic on reports the government may extend export incentives to even large players in sectors like pharma, chemicals and electronics.”

Foreign portfolio investors pumped in money here, turning buyers for net equity worth ₹650 crore. Domestic institutions bought net equities to the tune of ₹365.77 crore, while retail investors used the opportunity to sell, offloading ₹133.04 crore worth equity on the BSE.

The Bank Nifty jumped 3.05 per cent, while the CNX Finance was up 3.75 per cent. The infrastructure and energy indices moved up 3 per cent each.

The CNX Auto index gained 2.06 per cent, led by Motherson Sumi, Tata Motors and Bosch. However, Maruti Suzuki, after a downgrade by foreign brokerage Jeffries, shed 3.46 per cent.

Power financiers Power Finance Corp and Rural Electrification Corporation were up, after the government announced a restructuring package for nine state electricity boards.

Published on October 05, 2015
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