Mumbai: In a turnaround session, markets saw huge reversal and shot up on account of heavy buying in scrips across sectors on Thursday.
The Sensex closed above 9,550 up 640 points, whereas Nifty closed with hefty gains of 171 points marking the biggest ever intra day gain.
Sensex, which had lost 871 points in the last three trading sessions, rebound to show an intra-day gain never seen before.
Stock prices surged snapping a three-day slide on the Bombay Stock Exchange, pushing the benchmark Sensex up on brisk buying support.
Heavyweights like Infosys, Reliance Industries, BHEL, Grasim, Bajaj Auto and ACC gained remarkably.
All the BSE sectoral indices closed in green. Stocks like Shaw Wallace, HLL, Tata Tea, Nestle and Colgate spurted up.
Gains were seen in BEML, BHEL, Ingersoll Rand, Alstom Projects and SKF India. Earlier, the index had dropped 28 percent from its peak on May 10.
Index heavyweight Hindustan Lever was trading at Rs 199.70, up 7.28 per cent from its previous close of Rs 186.15.
Tracking the buoyant trend in global markets, the stock markets opened strong and rallied right from the opening trade amid negative Foreign Institutional Investors (FII) activity.
Markets recovered on increased buying in blue-chip stocks by foreign as well as domestic funds.
Marketmen said, reports of firming trends on global markets triggered fresh round of buying by foreign and domestic funds particularly in index-related stocks.
(With agency inputs)
Comments
0 comment