For the second day, the Sensex broke
free today, shooting up nearly 425 points, and the Nifty
wrested back control of the 8,800-mark in early session on
substantial gains across the spectrum, driven by increased
foreign capital inflows.
For the second day, the Sensex broke
free today, shooting up nearly 425 points, and the Nifty
wrested back control of the 8,800-mark in early session on
substantial gains across the spectrum, driven by increased
foreign capital inflows.
The 30-share barometer zoomed 424.99 points, or 1.50
per cent, to 28,726.26. The gauge had gained 145.71 points in
the previous session.
Also, the NSE Nifty recaptured the key 8800-level by
surging 91.60 points, or 1.04 per cent, to 8,869.60.
HDFC Bank skyrocketed 7.29 per cent to Rs 1,424.05 after
RBI yesterday lifted restrictions on foreign investors for
purchase of shares in the company.
FIIs, NRIs and PIOs (persons of Indian origin) can invest
in primary and secondary capital markets in India through
portfolio investment scheme (PIS).
RBI monitors the ceilings on FII, NRI, PIO investments
in Indian companies on a daily basis and has fixed the cut-off
2 percentage points below the actual ceiling.
Other big-time movers that supported the rally were
HDFC Ltd, Axis Bank, Lupin, PowerGrid, Adani Ports, Tata
Motors, ONGC, Cipla, GAIL, Bharti Airtel and L&T, advancing by
up to 1.64 per cent.
Brokers said sustained buying by investors, along with
foreign capital inflows amid sizeable purchases by domestic
institutional investors, bolstered sentiment.
However, they said, a weak trend at other Asian markets
tempered the momentum here.
In the rest of Asia, Japan's Nikkei fell 0.57 per cent
while Hong Kong's Hang Seng slumped 0.46 per cent in early
trade today. Shanghai Composite was trading 0.24 per cent
down.
The US Dow Jones Industrial Average, however, ended 0.04
per cent higher yesterday.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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