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Sensex Jumps 330 Points; Nifty Ends At 10576

Sensex Jumps 330 Points; Nifty Ends At 10576

The BSE healthcare took the pole position among sectoral indices, gaining the most by 2.91 per cent, followed by realty 2.51 per cent, Telecom (1.45 per cent), Capital Goods (1.44 per cent), teck (1.41 per cent), IT (1.40 per cent), metal (1.35 per cent), consumer durables (1.32 per cent), auto (1.17 per cent) and bankex (1.12 per cent). MSCI's broadest index of Asia-Pacific shares outside Japan was little changed as US bond yields crept up towards four-year highs.

The Sensex and Nifty logged a strong recovery today with gains of almost 1% each, ending the seven-day losing streak since the Modi government presented its last full year Budget last Thursday before it goes to Lok Sabha polls in 2019.

Strong stock specific moves post earnings, and short covering as well as bargain hunting propelled the market higher today, experts said.

Sensex started gaining momentum in afternoon trade and rallied over 482 points on continued buying by domestic funds and recovery in the rupee amid higher Asian markets.

Axis Bank, PNB, Federal Bank, State Bank of India, Bank of Baroda, Yes Bank, Kotak Bank, HDFC Bank, IndusInd Bank and ICICI Bank advanced by up to 2.70 per cent. The country's largest carmaker today launched the all-new version of its popular hatchback Swift. Ambuja Cements gained 5.5 percent and UltraTech Cement rose 2 percent.

Excel Industries jumped 18.48% to Rs 883.40 at 10:57 IST on BSE after net profit spurted 1557.63% to Rs 19.56 crore on 60.11% growth in net sales to Rs 146.77 crore in Q3 December 2017 over Q3 December 2016. The BSE Oil and gas index fell 38 points to 15653 level.

International Olympic Committee plunged 4.7 percent as the stock traded ex-dividend. European stocks - France CAC, Germany DAX and Britain FTSE were down around a percent (ahead of Bank of England decision) at the time of writing this article.

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