Sensex gains 208 pts on expectations of better Q3 results

MUMBAI: The benchmark Sensex ended with a significant gain of over 208 points on the Bombay Stock Exchange on Wednesday on hectic buying by funds on expectations that blue-chip companies might announce better quarterly earnings this month.

The Sensex shot up by 208.57 points to 19,738.07, supported by stocks in oil and gas, bank, metal and capital goods sectors.

It touched a day's high of 19,790.92 and a low of 19,560.68 points,

Similarly, the National Stock Exchange index Nifty rose by 81.65 points to 5,940.00. It touched the day's high of 5,949.30 and a low of 5,859.95 points.

Marketmen said speculations that some of the largest companies might report higher earnings for the last quarter pushed up the market. The companies might report higher advance tax payouts this month, signalling an increase in profits, they said.

Oil and gas index gained the most by 288.89 points at 12,939.99, followed by bank index by 223.51 points at 11,020.60. Capital goods index rose by 227.33 points at 20,403.26 and metal index by 174.94 points at 19,044.22.