Sensex regains 28,000-level in afternoon trade
Sentiments were buoyed on continued hopes of rate cut by the Reserve Bank at its policy review early next month amid expectations that State Bank of India and ITC may post encouraging financial results later in the day, brokers added.
The benchmark BSE Sensex jumped over 215 points to regain the 28,000-level after a gap of nearly one month during mid-session trading today on across-the-board buying, led by shares of SBI and ITC.
Besides, a firming trend at other Asian markets influenced trading sentiments here, brokers said.
The 30-share index flared up by 215.32 points, or 0.77%, at 28,024.67 in afternoon trade.
The gauge has scaled the 28,000-mark after nearly one month as the last time Sensex traded above this mark was on April 23.
Sentiments were buoyed on continued hopes of rate cut by the Reserve Bank at its policy review early next month amid expectations that State Bank of India and ITC may post encouraging financial results later in the day, brokers added.
All sectoral indices, led by banking, PSUs, FMCG and capital goods, were trading in positive zone with gains up to 1.03%.
Also, the 50-share NSE Nifty was quoting higher by 53.65 points, or 0.63%, at 8,474.65.
SBI shares surged 2.82% to Rs 297.50 while ITC was trading 1.42% up at Rs 332 as participants enlarged positions ahead of these companies' quarterly earnings.
Other prominent gainers among the 30 Sensex stocks were HDFC Ltd, Sun Pharma, TCS, ICICI Bank, ONGC, Gail, L&T, Tata Motors, Axis Bank, BHEL, Coal India, RIL and M&M.