India News

Sensex rallies 446 pts; Nifty reclaims 17,800-mark

Mumbai, Oct: Equity benchmark Sensex rallied 446 points on Tuesday, propelled by index heavyweights Reliance Industries, TCS and Infosys amid a largely positive trend in global markets.

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Despite opening on a weak note, the 30-share Sensex ended 445.56 points or 0.75 per cent higher at 59,744.88. Similarly, the NSE Nifty surged 131.05 points or 0.74 per cent to 17,822.30.

IndusInd Bank was the top gainer in the Sensex pack, jumping nearly 5 per cent, followed by Bharti Airtel, HCL Tech, Reliance Industries, Titan and Asian Paints.

On the other hand, Sun Pharma, ITC, PowerGrid, UltraTech Cement and Nestle India were among the laggards.

“Domestic equities continued to show resilience and extended gains amid mixed global cues as expectations of strong September quarter earnings lifted investors’ sentiments,” said Binod Modi, Head-Strategy at Reliance Securities.

IT and energy stocks witnessed strong recovery, while financials (excluding PSU banks) also witnessed modest rebound, he said, adding that heavyweight Reliance Industries continued to move higher and supported the market rally.

Elsewhere in Asia, bourses in Seoul and Tokyo ended with losses, while Hong Kong was positive. Shanghai was closed for holidays.

Stock exchanges in Europe were trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.47 per cent to USD 81.64 per barrel.

PTI

http://ptinews.com/news/12789819_Sensex-rallies-446-pts–Nifty-reclaims-17-800-mark.html

Categories: India News

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