Sensex climbs 211 pts on positive economic data points

14 October, 2017, 01:22 | Author: Regina Silva
  • Sensex moves up 113 pts Nifty climbs above 10,000

Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.90 per cent.

US stocks closed modestly lower on Thursday partly due to profit taking following the upward trend seen over the past several sessions.

Globally, China's blue-chip CSI300 index advanced 0.2 per cent, to 3,921.00 points, while the Shanghai Composite Index added 0.1 per cent to 3,390.52. Tata Steel, Kotak Bank, Coal India, HDFC Bank and ICICI Bank had a field day, surging by up to 2.86 per cent. Shares of Tata Teleservices (up 9.95 per cent), Bharti Airtel (up 7.89 per cent), Idea Cellular (up 5.91 per cent), Reliance Communications (up 5.25 per cent), Bharti Infratel (up 4.07 per cent) and Himachal Futuristic Communications (up 1.17 per cent) extended support by rallying up to 10 per cent.

Pharma stocks such as Sun Pharma (down by 0.87%), and Dr. Reddy (1.09%) ended amid losers.

On the broader side, most indices ended on a marginal gain.

The benchmark Nifty closed at a new record high on Friday after economic data surprised positively.

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Driven by strong IIP numbers and an unchanged inflation, the Sensex on Friday rallied over 211 points to 32,393, reflecting interrupted buying by domestic institutional investors.

Bharti Airtel, India's biggest telecom operator, said it would buy the consumer mobile business of Tata Teleservices and Tata Teleservices Maharashtra, free of cost.

Industrial output hit a nine-month high of 4.3 per cent in August and CPI inflation held steady at 3.28 per cent in September, instead of accelerating as expected, raising tentative hopes the central bank would be less hawkish about interest rates.

The gauge had shot up 348 points on Thursday.

On Friday's session, the benchmark BSE Sensex gained over 300 points and was subsequently hovering around 32,480 levels.

The 50-share NSE index rose to 10,167.45 - a fresh record - up 71.05 points, or 0.70 per cent - after scaling a new intra-day high of 10,191.90.

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